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Interview of the Executive Director of the Association Artem Petrenko for the relevant edition Energy Business.
Stability in the industry and consistency of the rules of the game are key for the investor. Even verbal statements about some manual regulation completely kill the investment climate, Artem Petrenko, the Executive Director of the Association of Gas Producers of Ukraine, is convinced.
- How do the current extraordinary gas prices in the world affect gas production?
- The situation with prices is really very unusual. Over the last two years, the supply and demand curve in the gas market has changed significantly. It used to be ordinarily when gas consumption decreased in summer and the price fell, and in winter consumption increased, and the price increased accordingly. This year, due to a number of factors - declining production in Europe, the withdrawal of American and Qatari gas to Asia, restrictions on supplies and speculation by Russia - the price of gas has risen considerably.
As for natural gas production, good prices are nice, because the industry is investing. We now see that gas producers, especially private, are starting to invest more in production - in drilling new wells and developing projects.
But way too high prices also cause crisis situation that consequently, can negatively affect the consumer. Gas producing companies have no interest in industrial consumers limiting their consumption. The balance of interests is very important and must be followed.
Read more (in Ukrainian) - https://bit.ly/3oXnPLA