Ukraine exports gas for first time since start of full-scale war

Companies sold about 12.75 million cubic metres of natural gas at the first export auction held by the Ukrainian Energy Exchange (UEEX) on 15 October.

Source: the auction results published by the UEEX

Details: The sale prices ranged from €69 to €69.03 per MWh.

The largest volume was sold by Naftogazvydobuvannia PrJSC, at about 7.78 million cubic metres. The remaining gas was sold by Naftohazdiia LLC, Naftohazheorozvidka LLC and Kosul LLC. All four companies belong to the DTEK Group, Ukraine's largest private energy company.

In total, they sold about 12.31 million cubic metres of gas.

All four companies initially offered the gas at €87 per MWh. The final prices were about 21% lower. They were also 19% below the last recorded price at the Dutch TTF hub, which stood at €85.5 per MWh.

The export price was 89% higher than the domestic price.

Deliveries are scheduled to take place at the Polish border between 26 October and 31 December. Full prepayment is required for all lots. Deliveries will proceed subject to the sellers obtaining the relevant export licences from the Ministry of Economy.

For reference: Following the start of Russia's full-scale invasion in 2022, the government banned gas exports. A government decision on 7 October 2026 reintroduced permission to export gas.

Background:

• In late August, Ukraine accumulated enough gas to meet the basic scenario for getting through the winter.
• The export sales limit stands at 15% of the volume of gas delivered by a producer to the gas transmission system in the previous month. Gas exports are prohibited during winter.

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