Engie, the French energy company, now has the opportunity to keep its gas in the Ukrainian underground storages. Ukraine’s company Ukrgazvydobuvannya and Engie signed the agreement in presence of the Ukrainian Premier Volodymyr Groysman. The ceremony took place in Paris on October 28.
According to the statement released on the company’s website, this agreement takes the form of a framework contract allowing ENGIE to reserve transport and gas storage capacities in Ukraine, starting this winter. This makes ENGIE the first European energy player to be actively involved in Ukraine's wholesale gas market. The agreement dovetails with ENGIE's long-term commitment to Ukraine. In 2015, the Group became Ukraine's main Western supplier of natural gas, providing 3.5 billion cubic metres of gas, mainly to state-owned JSC Naftogaz of Ukraine, thus contributing to the country’s security and diversity of supply.
Engie is the state-run multinational electric utility company, which operates in the fields of electricity generation and distribution, natural gas and renewable energy.