Ukrtransgaz strengthens the verification of UGS customers by international standards

Ukrtransgaz strengthens the measures for checking the customers of gas storage services and introduces the international standard KYC (Know your customer). KYC verification includes a range of activities, such as the identification of the participants and the ultimate beneficiary (-ies) of the counterparty, as well as the verification of the application of sanctions to the counterparty, participants and final beneficial owners.

Customers who intend to conclude a contract with the company for the provision of gas storage services (injection, withdrawal) must complete a special questionnaire of the KYC counterpart. It should indicate the affiliation of the industrial and financial group, the participants and the final beneficial owners of the counterparty and the ownership structure of the counterparty.

Today, 790 companies, 80 of which are foreign traders, are customers of gas storage services. The number of customers is constantly increasing.

The introduction of new European standards in operation will increase the confidence of the gas storage operator of Ukraine, both on the part of existing customers and potential ones, and help to build strong relations with possible investors and partners.

“As an operator of gas storage facilities of Ukraine we constantly improve our work with customers – we develop new services, extend the functionality of the client IT-platform, improve internal processes. Using the KYC standard is our next step in this direction. It makes the process of interaction between the operator and clients more transparent and structures”, - notes Sergiy Pereloma, acting general director of Ukrtransgaz JSC.