SOCAR starts storing gas in Ukraine's underground storage

30 November 2024

SOCAR starts storing gas in Ukraine's underground storage facilities

14:24 08 September 2017 Read: 1148

SOCAR Ukraine trading house (a subsidiary of Azerbaijan’s state oil company SOCAR) started pumping natural gas into Ukrainian underground storage facilities in August, registering it in the “customs warehouse” mode, which allows storing for up to three years (1,095 days) without the payment of taxes and customs duties, the Ukrainian news agency enkorr (enkorr.com.ua) reported.

“SOCAR and Engie brought imported gas and left it in a licensed customs warehouse, in other words, in underground storage facilities of PJSC Ukrtransgaz,” says the report.

According to Consulting Group A-95, the Ukrainian subsidiary – Engie – received gas from its parent trading structure, and SOCAR Ukraine trading house, bought gas from the Polish gas company PKN Orlen, which debuted on the Ukrainian market.

“In fact, for the first time in history, European gas will be stored in Ukraine in a licensed customs warehouse,” says the report.

SOCAR Ukraine was opened in Ukraine in 2008 and it manages a network of 60 filling stations in Ukraine.

More about: #SOCAR

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