Presenting the service of exchange trading of gas, stored in UGS
The Storage System Operator of Ukraine and the Ukrainian Energy Exchange have presented a new business opportunity for gas market participants - the service of exchange trading of gas, stored in Ukrainian underground storage facilities. Currently, the exchange trade of natural gas in UGS through the purchase and sale of short-term standardized products is available to companies, that work with customs-cleared gas. But we are working on expanding the functionality and in the near future, operations can be carried out with gas stored in the mode of "customs warehouse" and "customs warehouse + short-haul" regimes.
The opportunity of conducting trade sessions with customs-cleared gas is already available for market participants.
Trading is carried out in the short-term natural gas market section of UEEX. Customers of storage services who have received the relevant access to the bidding in accordance with the UEEX procedure may participate in the bidding. Gas in UGS is traded in the form of short-term standardized products through the Energy Trading Platform of UEEX in the mode of bilateral counter auction (continuous trading). Agreements are concluded by matching, and their execution is carried out by means of the exchange's clearing system which is integrated with systems of the SSO and bank, including escrow accounts. Prior to bidding, bidders pay a guarantee fee of 3% of the bid price (ensuring the signing of agreements and confirmation of trade notifications), and buyers pay 100% of the value of the goods to their escrow accounts. The UEEX exchanges information with the SSO on customers of storage services (availability of natural gas, allocated working volume, etc.). After the auction, UEEX sends trade notifications to SSO, and after their confirmation, performs settlements between the parties.
The Ukrainian Energy Exchange and the Storage System Operator invite companies to participate in natural gas trading in UGS in the short-term market by the link. Participants who already have access to the short-term market of the UEEX will be able to access the simplified procedure.
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