NJSC Naftogaz Ukrainy increased its share in the Ukrainian “free” gas sales market to 30% in 2023, compared to 8% in 2022, said the head of the company’s board, Oleksiy Chernyshov, in an interview with Forbes Ukraine.

He clarified that part of the gas sold on the market was purchased from private producers on the exchange, and in total about 1 billion cubic meters were purchased from private traders last year.

“In 2023, we increased our share in the free market from 8% to 30%. Our purchase of gas from private owners is beneficial to both them and us. This is a segment where we are not limited by state regulation,” Chernyshov said.

The head of Naftogaz also said that in the first months of this year, daily gas production is 10% higher than at the beginning of 2023. The group’s gross production goal for 2024, taking into account Ukrgazvydobuvannia and Ukrnafta, is about 15 billion cubic meters, commercial - over 14.5 billion cubic meters.

According to him, in general, by the end of 2023, Ukraine produced about 18.5 billion cubic meters of gas, consumed about 19.5 billion cubic meters.

“We still need to increase the economy of consumption. Ukraine is one of the least energy efficient countries. In addition to increasing production, state energy efficiency programs should be introduced with simultaneous gradual liberalization of prices for the population. Without a transition to market prices, energy efficiency programs will not make sense,” he noted.