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Main Business Ukraine is emerging as Europe's "power bank": Prominent international energy corporations are utilizing Ukraine's gas storage facilities

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Ukraine is emerging as Europe's "power bank": Prominent international energy corporations are utilizing Ukraine's gas storage facilities

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Ukraine is emerging as Europe's "power bank": Prominent international energy corporations are utilizing Ukraine's gas storage facilities

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Despite the military challenges, foreign companies are actively injecting gas into Ukrainian gas storage facilities due to commercial advantages.

According to the press service of NJSC "Naftogaz of Ukraine," foreign traders can store their blue fuel in Ukraine for up to 3 years without customs duties and re-export it to gas storage facilities in other countries without hindrance.

"Today, Ukraine has every chance to become a "power bank" for the whole of Europe. Given the 87% filling rate of EU gas storage facilities and attractive tariffs for storage in Ukrainian UGSs, foreign customers are actively storing gas in our underground facilities," said Naftogaz Group CEO Oleksiy Chernyshov.

Foreign traders can store their fuel in Ukraine without customs clearance for 3 years and freely re-export it to gas storage facilities in other countries

Ukrtransgaz, the operator of Ukrainian underground storage facilities and part of Naftogaz Group, currently offers customers more than 10 billion cubic meters of natural gas storage capacity.

In addition, services of Ukrainian underground facilities are subject to some of the most attractive tariffs in the EU energy market, which are guaranteed to remain unchanged until the end of the off-take season.

The Odessa Journal
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