KYIV, April 12 – The gas supply company, Naftogaz Trading LLC, has sent letters of proposal to stock exchanges to resume exchange trading in gas, which has been suspended since the introduction of martial law in Ukraine, according to a press release from NJSC Naftogaz Ukrayiny on Monday.

Letters of cooperation proposals were addressed to all commodity exchanges that have received licenses from the National Securities and Stock Market Commission.

"Expanding cooperation with licensed exchanges will allow diversifying natural gas sale markets and providing opportunities for participation in exchange trading exclusively to market participants who have passed the compliance check of commodity exchanges," the company noted.

According to the company, Naftogaz Trading also recently signed a cooperation agreement with another licensed commodity exchange represented by PJSC Ukrainian Interbank Currency Exchange (UICE).

The document provides that the UICE will provide a platform for organizing electronic trading in natural gas, company bonds, financial instruments, including swaps, options, direct and reverse repo transactions, financial derivatives and other commodities.

In addition, it provides for the creation of conditions for attracting international traders to participate in the auction.

"Naftogaz Trading intends to offer on the UICE products already known to the market in the natural gas trading section and is developing new proposals for delivery periods and pricing. It is planned that the first auction of the company's resource will take place in April this year," the company stressed.

The Ukrainian Energy Exchange (UEEX) became the first exchange to receive a license to carry out activities for organizing trade in products on commodity markets, the second – the Ukrainian Universal Exchange, and the third – the Ukrainian Interbank Currency Exchange (UICE). (om/ez)