Despite Russian airstrikes targeting Ukraine’s energy infrastructure, the head of Ukraine’s state energy firm expressed optimism that the country aims to increase its gas storage for foreign companies and traders this winter to approximately 4 billion cubic meters, making for a significant 60% rise from the previous year.
Storing gas helps Ukraine to collect revenues while providing Europe with additional supply flexibility after the continent cut Russian gas imports because Moscow invaded Ukraine.
Oleksiy Chernyshov, chief executive of Naftogaz, told Reuters that Russia had attacked the firm’s infrastructure five times since March, in the first such attacks since the war began in February 2022.
He said the underground storage was not damaged but Naftogaz was working on strengthening defenses as gas pumping facilities above ground are more vulnerable.
Underground facilities, mostly in western Ukraine, have a capacity of 31 cubic meters. That is enough to cover Ukraine’s annual needs and allow storage of surplus volumes from Europe to be released during peak demand in the northern hemisphere winter.
Chernyshov said foreign traders had resumed pumping gas into the storage in recent days. He said volumes were small so far, but he expected them to rise later this year when the heating season approaches.
He did not provide volumes of gas stored so far or the names of those that have stored gas.
Chernyshov said the company had about 100 contracts with foreign traders to store gas. Russia continues to supply gas to Europe via Ukraine under a transit deal that is set to expire in December. Ukraine has said it does not plan to renew it.
Oleksiy Chernyshov, chief executive of Naftogaz, told Reuters that Russia had attacked the firm’s infrastructure five times since March, in the first such attacks since the war began in February 2022.
He said the underground storage was not damaged but Naftogaz was working on strengthening defenses as gas pumping facilities above ground are more vulnerable.
Underground facilities, mostly in western Ukraine, have a capacity of 31 cubic meters. That is enough to cover Ukraine’s annual needs and allow storage of surplus volumes from Europe to be released during peak demand in the northern hemisphere winter.
Chernyshov said foreign traders had resumed pumping gas into the storage in recent days. He said volumes were small so far, but he expected them to rise later this year when the heating season approaches.
He did not provide volumes of gas stored so far or the names of those that have stored gas.
Chernyshov said the company had about 100 contracts with foreign traders to store gas. Russia continues to supply gas to Europe via Ukraine under a transit deal that is set to expire in December. Ukraine has said it does not plan to renew it.
Source: Reuters
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