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Posted On

03
September
2021

Non-residents keep almost 30% of their gas reserves in Ukraine's UGS for more than one year – Ukrtransgaz

LVIV. Sept 3 (Interfax-Ukraine) – Foreign companies keep 28% of the 3.3 billion cubic meters of their natural gas reserves available today in the underground gas storage facilities (UGS) in Ukraine for more than one year, head of JSC Ukrtransgaz Serhiy Pereloma told reporters at a press conference.

"This testifies to trust. Foreign companies are no longer afraid to hold a long position, that is, they trust not only the operator of the Ukrainian underground storage facilities, but in general Ukraine as a state," he said.

Pereloma noted that at the beginning of the last heating season on October 20, 2020, non-residents had about 10 billion cubic meters of gas in UGS facilities in Ukraine, of which by April 30, 2021 they used about 6 billion cubic meters, in particular about 500 million cubic meters were re-exported and returned to the European market, while 5.5 billion cubic meters – customs cleared and sold for the needs of Ukrainian consumers.

Of the remaining in the UGS 4 billion cubic meters of gas, another 500 million cubic meters were also cleared by customs and sold inside Ukraine, and only 60 million cubic meters in the period from June to September this year were re-exported.

"This additionally confirms the trading strategies that are chosen by many non-resident companies: they prefer to work in the Ukrainian market," the expert said.

As reported, at the beginning of September there are about 18 billion cubic meters of natural gas in the storage facilities in Ukraine.