Foreign companies’ interest in gas storage in Ukraine growing

Despite the war-related risks, foreign gas companies show interest in resuming the use of the Ukrainian underground gas storage facilities.

“Foreign gas companies are returning to Ukraine to inject gas in storage despite the high risk linked to Russia’s military invasion of the country,” Sergii Pereloma, acting CEO of storage operator Ukrtransgaz (UTG), said speaking to ICIS, the press service of Ukrtransgaz informs.

As noted, even though the Ukrainian government introduced a ban, preventing companies from withdrawing gas from storage and exporting volumes, it did not have a tangible impact, as foreign companies would have shipped almost all the gas out of the country by then. The remaining volumes of gas could be sold in Ukraine during the ban.

“With the government lifting the ban on 3 April companies can now start injecting gas in storage and export it, if needed,” Ukrtransgaz informs.

Pereloma said some companies had already expressed an interest to return but declined to give any information on how much gas was currently in storage or being injected.

UTG stopped publishing information at the start of the war because of risks linked to physical attacks on the infrastructure or cyberattacks.

Pereloma also confirmed there were no plans to change storage tariffs for now.

Ukrtransgaz JSC, a part of Naftogaz Group, owns 12 underground storages, located all over Ukraine with an active volume of 31 bcm. Before Russia’s full-scale invasion, 100 non-resident companies from Europe, the United States, and Asia used the services of Ukrainian underground storage facilities.

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