(+3.3%)The Association of Gas Producers of Ukraine presents the current information on the Ukrainian and European gas markets.
The average spot price stood at 53.861 EUR/MWh ($652, or UAH 29 136 per thcm).
The average futures price at the TTF hub (Month-Ahead), excluding the last trading day, was 53.785 EUR/MWh ($651, or UAH 29 094 per thcm).
Over the month, spot market prices increased by 20.3%, while futures rose by 19.5%. The price differential between these derivatives amounted to 0.1%, and volatility reached 49%.
In July, 25.6 million cm of gas was traded on the exchange at a weighted average price of UAH 20 873 per thcm, excluding VAT. All gas sold was of Ukrainian origin.
Ukrnafta accounted for 1% of the successfully sold volumes, while other market participants accounted for 99%. The gas was sold to the TSO of Ukraine electricity generation (73%), Ukrzaliznytsia (21%), MTM (3%), Cherkasyteplokomunenergo (2%), and Energo Zbut Trans (1%).
In total, 213.6 mcm of gas was sold on the UEEX in 2026, excluding GMU, of which 204.3 – domestic, and 9.3 – imported.
In July, competition for LNG began to directly affect European UGS filling levels. Asia increased its purchases of US cargoes, pushing EU LNG imports down to around 6.9 million tonnes – the lowest level since September 2024. At the same time, gas injections lagged behind the usual seasonal pace.
According to ACER estimates, filling European UGSs to 90% would require LNG imports to increase by around 13% compared with 2025 levels. If supplies remain at last year’s level, stocks may reach only 80% by the start of the heating season, which the European Commission considers sufficient to get through the winter.