Ukraine's gas surplus prompts analysts to urge export reopening

Ukraine has developed a gas surplus in its commercial market segment due to a sharp decline in industrial consumption, prompting analysts to again recommend resuming exports. The surplus emerged as major industrial consumers reduced usage following Russian strikes on infrastructure. According to ExPro analyst Mykhailo Svyshcho, average summer gas consumption fell 20% year-on-year, with August seeing a 23% drop, the largest decline this year. The surplus was a key topic in discussions about controlled export reopening, but exports remain blocked, leaving excess supply domestically. The government imposed zero export quotas on domestically produced gas in 2022. A draft resolution proposes monthly export limits of 15% of previous month's production, with sales through specialized exchange trading and licensed companies only.