One of Europe’s major energy companies, France’s Engie (GDF Suez) with an annual turnover of around EUR 60 billion, will be the official supplier of natural gas to Ukraine from the European market, where the main players are Norway, Russia, and Algeria. And most importantly – it will be the first European company to be allowed to store gas in Ukraine’s underground storage facilities (USF). A preliminary agreement was signed in the presence of Prime Minister of Ukraine Volodymyr Groysman and Minister of Economy and Finance of France Michel Sapin within a framework of a business forum held in Paris Oct. 28. Engie has already opened its subsidiary in Ukraine.
The news on the European gas pioneer on the Ukrainian market has caused quite a stir. However, Naftogaz had already reported on negotiations on the matter earlier this summer. In June, Naftogaz CEO Andriy Kobolev said that a large international company from France is planning to take a loan from the IFC to buy gas and then sell it to Naftogaz at a market price. However, he had not specified the name of the company back then.
