Ukraine’s DTEK to expand in Europe with LNG venture

Ukraine’s energy company DTEK’s trading arm is gearing up to enhance its workforce and venture into the liquefied natural gas (LNG) sector to strengthen its ties with Europe, Bloomberg reported on Wednesday.

D. Trading, aspires to recruit up to 12 individuals for power, gas, and fuel trading by year-end, revealed CEO Ivan Geliukh. Currently operating with approximately 60 traders across four offices spanning from Kyiv to Amsterdam, the company aims to establish an LNG desk in the long run.

This expansion strategy is aimed at bolstering Ukraine’s integration into the broader Europe energy market, thereby enhancing the security of electricity and gas supplies in the war-affected nation. Moreover, the volatile nature of these markets presents lucrative trading opportunities for substantial profits.

Geliukh emphasised, “Our plan is to contribute to energy security in Europe. Currently, we boast a substantial customer portfolio in Ukraine, and our next objective is to fortify our team and extend our capabilities across the region.”

The augmented team will prioritise enhancing connectivity between Ukraine’s energy infrastructure and the continental grid. Despite possessing ample storage capacity, Ukraine faces the risk of fuel becoming stranded due to recurrent assaults by neighbouring Russia.

Furthermore, DTEK’s foray into the LNG market mirrors endeavours by major commodity traders like the Vitol Group. With Europe transitioning away from Russian pipeline gas and embracing cleaner energy sources, traders are eyeing the LNG market for growth opportunities.