ERU TRADING (subsidiary of ENERGY RESOURCES OF UKRAINE) in cooperation with PGNiG (Polish Oil and Gas Company) state controlled oil and natural gas company have begun deliveries of natural gas from Poland into Ukraine.
ERU TRADING and PGNiG have made the initial deliveries of natural gas to Ukraine from Poland for supply to the industrial consumers in the Ukrainian market. Based on the agreements between the two companies, ERU Trading will secure its position as the largest privately owned natural gas importer in Ukraine.
Yaroslav Mudryy, Commercial Director of ERU TRADING, noted: «Our cooperation with the largest Polish energy company PGNiG is an important step to help ERU Trading diversify our supply portfolio and provide our customers with a reliable and affordable natural gas deliveries in Ukraine. We believe that cooperation will help further develop natural gas market and help integrate Ukraine into European energy markets as a whole».
«The initiated deliveries of natural gas to Ukraine under the contract with ERU Trading, confirms that commercial conditions offered by PGNiG are competitive and therefore attractive for both domestic and international customers. I am also glad that cooperation with ERU Trading expands the PGNiG’s natural gas customer’s portfolio by strengthening our presence in neighboring markets. Deliveries of natural gas on the Ukrainian market are a part of the trading policy of PGNiG» – said Bartłomiej Korzeniewski – Executive Director of the PGNiG Wholesale Trading Branch.
«Cooperation with PGNiG enables ERU TRADING to offer European instruments for gas purchase to Ukrainian consumers as well as hedging of the associated commercial risks. Large supply portfolio of ERU TRADING allows the company to offer the best commercial terms to its customers in Ukraine as well as offer wide variety of short term and long term supply options for energy products within the country», – said Yaroslav Mudryy, Commercial Director of ERU Trading,
Polskie Górnictwo Naftowe i Gazownictwo SA is the leader in the Polish natural gas market. PGNiG SA is a publicly traded company, listed in the WIG20 index of the Polish blue-chip stocks. The company’s business comprises exploration for and production of natural gas and crude oil, and − including its key subsidiaries − import, storage, sale and distribution of gas and liquid fuels, as well as heat and electricity generation. PGNiG S.A. holds equity interests in 29 subsidiaries, including providers of specialist geophysical, drilling and well services, highly valued on international markets. PGNiG SA has branches and representative offices in Germany, Norway, Brussels, Russia, Pakistan, Belarus and Ukraine. PGNiG SA is the sole owner of PGNiG Upstream International AS, engaged in upstream activities on the Norwegian Continental Shelf and the Norwegian Sea; POGC - Libya BV, conducting hydrocarbon exploration operations in the Murzuq Basin in Libya; PGNiG Sales & Trading GmbH in Munich, which trades in gas; and PGNiG Finance AB in Stockholm, incorporated for the purpose of issuing eurobonds on the European market. Recently PGNiG SA has announced opening of LNG trading branch in London which makes the next step in developing international presence of the Group.
ERU TRADING is the leading private energy trader in Ukraine. The company founders have over 40 years of international energy experience with special emphasis on Ukraine. ERU Trading is the largest private natural gas importer in Ukraine and offers its clients full range of energy portfolio management capabilities including electricity export and local deliveries, HFO supplies, coal deliveries as well as export of agricultural and other raw materials.