Naftogaz is ready to start working within AggregateEU

Naftogaz of Ukraine has entered the joint gas procurement platform AggregateEU and is ready to start working.

According to Ukrinform, Naftogaz Group CEO Oleksiy Chernyshov stated this during his speech to the EU Energy Platform's board, Naftogaz reports.

"Naftogaz has registered with the AggregateEU joint gas procurement platform and is ready for the first stage of its operation," the statement said.

It is noted that the AggregateEU platform was launched today, April 25, 2023.

During his speech, Chernyshov addressed the participants of the European gas market with a proposal to use the capacities of Ukrainian underground gas storage facilities (UGS) to store natural gas purchased under the AggregateEU platform.

"Ukrtransgaz, the UGS operator, has successfully passed certification and confirmed its right to carry out gas storage activities in accordance with the updated rules in the European Union and the Energy Community. Naftogaz can make Ukraine a "power bank" of Europe and looks forward to fruitful cooperation," Chernyshov said.

EU Energy Platform’s representatives emphasized that Naftogaz Group's participation in the platform is a "triple win". In addition to providing extra "insurance" for Ukraine’s next heating season, it also opens the possibility for platform members to store gas in Ukrainian underground storage facilities. Traders operating within the platform will also be able to pump gas into Ukrainian underground storage facilities and store it until new participants arrive.

As reported, Ukraine’s Energy Ministry is interested in the active participation of gas companies in the demand aggregation and joint procurement mechanism (AggregateEU). It was created by the European Commission as part of the EU Energy Platform.