DTEK Gets Licensed in Hungary to Supply Natural Gas to Ukraine
OREANDA-NEWS. DTEK Magyarorszag Kft (DTEK Hungary Power Trade LLC) was licensed in Hungary to trade natural gas. This will help DTEK improve the efficiency of gas imports to meet the needs for fuel by its generation facilities and other SCM group companies.
DTEK Magyarorszag Kft was established in 2010 to trade electricity and other energy products in Hungary. DTEK is planning to develop its gas business and is interested in working directly in European energy markets.
“Our goal is to improve the efficiency of our business and make our products and services more competitive,” said DTEK Commercial Director Andrey Favorov. “DTEK invests in the development of its Ukrainian reserves and is looking for other opportunities to buy cheaper fuel for its generation facilities. DTEK Magyarorszag Kft was granted all the permits that are required by Hungarian legislation to supply gas to SCM group companies in Ukraine. With our own license, we will be able to shorten the chain of intermediaries and get experience working in the European gas market.”
DTEK Trading obtained a five-year license for natural gas supply in 2012, which made the company an active player in domestic and foreign gas markets. This July the company started importing natural gas from Europe.
DTEK is one of Ukraine's largest energy traders. The company's coal is used at power plants and industrial enterprises in Europe, Asia, North and South Americas, and Africa. Its electricity is supplied to Hungary, Slovakia, Romania, Poland, Moldova and Belarus. DTEK is a full-fledged member of the European energy system and the European Federation of Energy Traders (EFET). The Company cooperates with the key players of the European energy market: Alpiq Energy SE (Czech Republic), Axpo Trading AG (Switzerland), E.ON Energy Trading (Germany), EDF Trading Limited (UK), and Gazprom Marketing & Trading (UK). To ensure transparent sales to end consumers in Europe, the Company established DTEK Trading SA, a subsidiary in Switzerland.