THE DEVELOPMENT OF REGIONAL GAS MARKET INTEGRATION

Abstract

The article investigates the state of formation of the natural gas market in Ukraine and identifies the factors that hinder the convergence of Ukrainian and European gas markets. The issues of creation of inter-regional gas hub in Ukraine and its importance for concentration of large volumes of commercial natural gas, which is the key to long-term energy security, are analyzed. It is substantiated that the existing resources for the creation and development of cross-border energy networks are an important element in the implementation of a long-term policy of achieving overall security, energy stability and diversifying the supply of energy resources to Europe. The creation and development of interconnectors will help increase the interaction between energy markets, meet demand, and ensure an acceptable level of prices for consumers. The standards and key threats to the reliable and uninterrupted gas supply, including the determination of natural gas volumes to cover its deficit in case of difficult climatic conditions, unexpected demand fluctuations or gas supply disruptions, are the necessary prerequisite for preventing potential disruptions of gas markets, implementing the most cost-effective measures, coordinating in crisis situations. Common approaches to the issues of gas supply diversification and gas security challenges in the Central and Eastern European region are analyzed, as well as the problems of access to energy and its economically viable use, which are important factors in the reform of the energy sector in Ukraine. Stated is that the favorable geographical location, potential regional importance in ensuring the security and security of gas supply through the Ukrainian territory, the political and economic transformations in the world and reforming the structure of the European gas space are the main factors for Ukraine's transition to modern market models of functioning of the systems of economic security and energy efficiency. Particular attention is paid to the promotion of European energy standards of the energy security in the field of stabilization of the energy markets.