Ukraine can become Europe’s energy hub – Naftogaz CEO

The relevant statement was made by Naftogaz Group Board Chairman & CEO Oleksiy Chernyshov in an interview with The Wall Street Journal, an Ukrinform correspondent reports.

According to Chernyshov, Ukraine has a vast gas storage system and transportation infrastructure, and stands ready to serve as Europe’s energy security anchor.

In his words, building up sufficient strategic gas reserves ahead of winter is no longer a commercial matter. It is a matter of Europe’s energy and economic security, as it allows for ensuring the stability of energy supply for Europeans in modern geopolitical conditions.

A reminder that, as of October 1, 2024, more than 12.4 billion cubic meters of natural gas was accumulated in Ukrainian underground storage facilities.

Ukraine has one of the most powerful underground gas storage systems in Europe, with a capacity of more than 30 billion cubic meters. From June 1, 2024, natural gas pumping, storage and withdrawal conditions for customers were eased.

Naftogaz Group will leave underground gas storage tariff rates unchanged until April 1, 2025.

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