Ukraine's DTEK plans LNG import deal by April, Bloomberg reports
Ukraine’s largest private energy company, DTEK, is in talks with several suppliers for a two-year liquefied natural gas (LNG) import contract into the country, CEO Maxim Timchenko said in an interview at IE Week in London, Bloomberg reports.
The company expects to finalize and announce the deal within the next two months, with most potential partners based in the U.S.
DTEK is also exploring longer-term agreements of 10 to 20 years with suppliers, including those from the Middle East. Timchenko declined to disclose specific suppliers, as negotiations are still in the early stages.
"We want to build a medium-term and long-term business," he said, adding: "We want to see Ukraine be an offtaker with gas storage facilities."
In June 2024, DTEK signed the first major deal with U.S. Venture Global to supply LNG to Ukraine for two years. It was the first time Ukraine has purchased U.S. LNG directly.
According to the agreement, Ukraine and other Eastern European countries would receive gas from Venture Global's Plaquemines plant located on the Gulf Coast in Louisiana.
DTEK successfully imported Ukraine's first US LNG shipment through a Greek terminal in December, utilizing gas swaps to transfer it into the European system since Ukraine lacks its own import facility, Bloomberg wrote.
The energy company plans to maintain monthly LNG imports and is exploring additional European terminals in Poland, Lithuania, Croatia, and Germany for future deliveries.
