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Increase safety stock for chastnыh gas companies "freeze" Almost 2 billion UAH

September 21, 2015
Experts criticized the proposal Ministry of Energy and the government to increase the volume of gas reserves of insurance for private companies.
The proposed government 10-fold increase in the required reserve stock of gas (from 10% to 100%) is the freezing of money and can "kill" a private business. This was stated by representatives of professional associations during the round table meeting "Will Ukraine with its own gas: production, taxes and investments", organized ZN.UA and consulting company "Newfolk."
According to Andrei Myzovets, president of the Association of "Gas Traders of Ukraine", today the need for the formation of an insurance reserve of gas is one of the most important challenges of the market. "Current" resolution of the Cabinet of Ministers provides for each supplier of 10 percent of the supply of gas supplies quarterly, is about 30% of deliveries per month. Who we are invited to "insure" 100%! If a judgment will (as expected September 20), until October 1, already have to have an insurance reserve. Where his brother? "- He said.
According Mizovtsa, safety stock of gas - is the freezing of money. If mining companies providing the resources, so they, too, should form the stock, while still pay the rent for the produced gas, which forms the reserve stock. "Today, private companies supply the market of 350-400 million cubic meters of gas per month, or 1-1.2 billion per quarter. Under the current law, private operators into UGS have to keep 120 million cubic meters of gas, and the new - already 400 million. This gas will actually "lie" in underground storage instead of going to the market - consumers. At today's prices is about 2 billion USD, "he says. Adding that all look forward to the enactment of the regulator, which dot the "i".
In turn, the Roman Storozhev, president of the Association "Ukrainian Subsoil users," notes that the additional 300 million cubic meters of gas in underground storage facilities is necessary to replace the market with imported gas. "Save if Ukraine 300 million cubic meters of gas in underground storage facilities in winter? I think not. 300 million cubic meters at the national level - it is very small, but if from the turnover of the domestic market, such a situation may derail market scare off investors. This will require suppliers gas "freeze" 100% of current assets, just drop them in the store, "- he says.
"Upon a decision to increase safety stock traders kills business, and in fact does not solve the problem of filling the underground gas storage," - he concluded. Today, according to government regulation, the insurance reserve is created gas supply enterprises in the amount of 10% of contractual quarterly volumes of natural gas supply to consumers (or about 30% of the monthly volume of deliveries) at the expense of their own or borrowed funds, except to use it for their own needs.
Create safety stock is carried out by pumping natural gas in kind in underground gas storage facilities, and / or purchases of natural gas from other owners, who keep the appropriate resources in underground gas storages. The draft of the new regulation is proposed to increase the amount of safety stock that the supplier must be stored in underground gas storages, from 1 October to 31 March - up to 100% of the monthly volume of deliveries, and up to 50% - in the period from 1 April to 30 September.
September 21, 2015
"Zerkalo Nedeli"