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Gas storage by foreign traders operating normally

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Gas storage by foreign traders operating normally

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Despite several attacks on Ukraine's underground gas storage facilities in March-April 2024, injection and withdrawal of gas by foreign traders are being carried out as usual.

This was reported by the head of the Naftogaz Group, Oleksiy Chernyshov, in an article for the Financial Times.

Last year, European traders injected about 2.5 billion cubic meters of fuel into Ukrainian gas storage facilities.

This year, the rate of injection has slightly decreased due to Russian attacks on gas infrastructure. However, the main factor remains commercial—the spread. The current gas price is not sufficiently attractive for traders to build reserves.

Last year, the peak of injections occurred in August-September, with the season lasting through October.

It is expected that European underground gas storage facilities will soon be full, as by the first decade of August 2024, they were already 86% full.

At the same time, according to Oleksiy Chernyshov, there will be plenty of available space in Ukrainian gas storage facilities in September and October. Additionally, the company is continuously working on enhancing the protection of the infrastructure.

It is worth noting that the tariffs for gas storage in Ukrainian underground storage facilities will remain unchanged until April 1, 2025.

 

Oleksiy Chernyshov

 

The Odessa Journal
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