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The ERU Group starts natural gas transit to Romania
ERU, Kyiv, Ukraine,
July 2, Thu, 2020
July 1, 2020, on the basis of the trilateral agreement between "Moldovatransgaz" LLC, "Moldovagaz" JSC and ERU Management Services LLC, which is part of the ERU Group, the first supply of natural gas to Romania with Moldova being a transit country took place. Historically, this route was used solely by Russia's Gazprom.
The agreement reached as to the use of the Moldovan gas transmission system opens the way for gas transit from Ukrainian underground storages to the market of Romania and other Balkan states. ERU Management Services LLC supplies gas under the contract with an international European supplier.
"ERU has become the first company to start operating on the gas transit route to Romania through Moldova, which is an alternate and attractive way to reach the European consumers. We can see its significant potential as the volume of supplies through the territory of Moldova can amount to 3 billion cubic meters of gas annually", noted Yaroslav Mudryy, Managing Partner with the ERU Group.
He also added that this would enhance the attractiveness of Ukraine as a viable Eastern European gas hub with the possibility of using underground storage capacities of 31 billion cubic meters that are currently only fifty percent utilized.
"Energy Resources of Ukraine" ("ERU") is a group of companies with foreign investments, specializing in development of energy projects in Ukraine. The company combines over 35 years of international energy development and management expertise with in-depth understanding of the local market. ERU Management Services LLC is the American parent company, which is part of the Group and conducts trade transactions.
The Group also includes "ERU TRADING", which in July 2019 became the first company that imported electricity from Europe to Ukraine. In August 2019 the first American LNG for Ukraine was contracted by ERU TRADING. www.eru.com.ua