DTEK Signs Natural Gas Supply Contract with PGNiG SA

DTEK Trading signed a natural gas supply contract with PGNiG SA.

Ukraine's largest private energy holding said that test supplies are scheduled to start 28-31 October 2013, with maximum daily supplies of up to 3.5 million cubic meters.

"DTEK's reputation as a reliable supplier of energy products to European markets helped us in launching our cooperation with the largest oil and gas company in Poland," said Andrey Favorov, Commercial Director of DTEK. "Our goal is to increase business efficiency and the competitiveness of products and services. The volume of imports will be adjusted by the end of the year based on economic feasibility and technical capabilities."

DTEK, which is part the financial and industrial group System Capital Management (SCM), obtained a five-year license for natural gas supplies in 2012, which is allowing it to take on an active role in domestic and external gas markets.

The company started importing natural gas from Europe in July 2013 facilitated by the establishment of Swiss unit, DTEK Trading S.A.