ICIS launches Ukraine gas price assessments, enhancing its European spot gas markets service
ICIS, the leading provider of pricing and market intelligence for the global energy, chemicals and fertilizer sectors, has enhanced its European natural gas market coverage with the introduction of new price assessments for the Ukrainian natural gas market.
The addition of two price assessments – one for Ukraine’s domestic virtual trading point (UAVTP) and the other based on the price of supply at Ukraine’s border from neighbouring EU countries – in the European Spot Gas Market (ESGM) daily report, will provide additional transparency to a market that has the potential to develop into an important trading area.
Over 40 international and domestic companies imported gas into Ukraine in the last quarter of 2018, according to ICIS data, increasing the need for robust reference prices. ICIS has already brought pricing visibility to the neighbouring Austrian, Hungarian, Czech and Slovakian markets, with the Ukrainian assessments adding to the suite of information.
“Market participants in Ukraine and in other European markets are keen to see trading liquidity grow,” said Ben Wetherall, Head of Gas & LNG at ICIS. “The launch of ICIS’ independent price assessments is the latest step in Ukraine’s transition from a gas transit country to a reliable trading partner that is closely integrated into EU market structures.”
The independent price assessments and indices published by ICIS are some of the most widely traded and referenced benchmarks across the European gas market.
The UAVTP and Ukraine border price assessments will initially cover the month-ahead contract, which will be published on a daily basis. This will complement ICIS’ pricing of other European gas hubs, enabling participants to manage risk with confidence.
The inaugural UAVTP month-ahead price on 25 March 2019 was assessed at €17.298/MWh, placing it a premium of €3.135/MWh to the Dutch TTF assessment, the most widely referenced European hub.
About ICIS
ICIS is a trusted source of global commodity intelligence for the energy, chemical and fertilizer industry. We are a division of RELX, a FTSE 15 company with a market cap of £39.3 billion and an employee base of over 30,000 experts across 40 countries.
At ICIS, we help businesses make strategic decisions, mitigate risk, improve productivity, and capitalise on new opportunities. We make some of the world’s most important markets more trusted and predictable by providing data services, thought leadership and decision tools. As a result of our unmatched global presence, we can deliver targeted connected intelligence to influence thousands of decisions across supply chains every single day. We shape the world by connecting markets to optimise the world’s valuable resources. With a global team of more than 600 experts, ICIS has employees based in London, New York, Houston, Karlsruhe, Milan, Mumbai, Singapore, Guangzhou, Beijing, Shanghai, Dubai, Sao Paulo, Seoul, Tokyo, and Perth.
About RELX
RELX Group is a global provider of information-based analytics and decision tools for professional and business customers. The Group serves customers in more than 180 countries and has offices in about 40 countries. It employs over 30,000 people, of whom almost half are in North America. The shares of RELX PLC, the parent company, are traded on the London, Amsterdam and New York Stock Exchanges using the following ticker symbols: London: REL; Amsterdam: REN; New York: RELX. The market capitalisation is approximately £39.3bn, €45.7bn, $54bn.
Media contact
Ben Wetherall
Head of Gas & LNG
Email: ben.wetherall@icis.com
Direct: +44 20 7911 1786
Ben Samuel
Editor, European Spot Gas Markets
Email: ben.samuel@icis.com
Direct: +44 20 7911 1726
Dr. Aura Sabadus
Senior Energy Reporter
Email: aura.sabadus@icis.com
Direct: +44 20 7911 1853