Ukraine, by issuing a limited export license for private natural gas producers, allows them to export up to 15 percent of their monthly production from March 1 to November 30 each year. The Ukrainian Ministry of Energy announced this news on October 12, emphasizing that gas exports will be prohibited during the period from December 1 to February 28.
New Gas Export Details
According to the new export procedure, export volumes will be determined monthly, and authorized exporters cannot carry over unused export volumes to subsequent months. Additionally, each seller is required to export the gas sold in a month no later than two months afterward. This decision follows recent reports of reduced gas export restrictions that had been banned since 2022.
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Gas Reserves and Domestic Needs Priority
The Ukrainian Ministry of Energy has stated that the country currently has nearly 15.8 billion cubic meters of gas in storage, exceeding the previous target of storing 14.6 billion cubic meters of gas before the winter season. The ministry also emphasized that this decision will not affect the supply of domestic needs in the fall and winter, and in case of any threat to gas supply or a crisis in the domestic market, the possibility of immediate export termination exists.
This decision comes as gas prices in Europe have risen to high levels due to the approaching winter season and supply disruptions caused by the war in the Middle East. For example, the price of gas in the Netherlands reached €81.63 per megawatt-hour on October 9, marking a 152 percent increase compared to last year.
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