Naftogaz Ukrainy seeks to buy natural gas produced in Ukraine

Naftogaz Ukrainy seeks to buy natural gas produced in Ukraine National joint-stock company Naftogaz Ukrainy has announced a reverse auction to buy natural gas produced in Ukraine.

The holding's press service reported on Tuesday that it seeks to buy up to 200 million cubic meters of gas made in July 2016.

The upper price at the auction would be up to UAH 4,504 per 1,000 cubic meters (VAT not included) or $180.40.

At the first phase of the auction bidders can submit offers without mentioning the prices and bidders who will pass the qualification procedures are invited to the second phase of the auction. They are to offer their prices. Qualification documents can be submitted until 10:00 on June 17 and price offers – until 10:00 on June 21.

The volume is divided into 22 lots: four lots of 5 million cubic meters each and 18 lots of 10 million cubic meters each.

Read also: Ukraine buys gas at $181.50 in May - Economic Development and Trade Ministry

Companies that produce gas in Ukraine and that do not have tax debts can take part in the auction. The bidders will be able to sell gas stocks not exceeding 80% of their monthly production.

"Holding of reverse auctions would allow producers to quickly sell gas and get working capital," the holding said.

According to Ukrtransgaz's data, private gas producers since early June are gradually increasing daily production. If on June 1, 2016 daily production by private companies was 11.085 million cubic meters, on June 12 it grew to 11.601 million cubic meters.
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