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Increased interest in Ukrainian gas storage thanks to positive stress-test results, Deputy Minister says

The lower cost of services in Ukrainian underground gas storage facilities (UGS) and the gas transportation system (GTS) is attracting foreign traders in the context of high PSG utilisation levels in EU countries, Ukraine’s Deputy Energy Minister Mykola Kolisnyk said at a recent Managing Board of the EU Energy Platform meeting dedicated to the results of the first two tender rounds within the AggregateEU platform.

European traders’ increased interest in storing gas in Ukraine is partly due to positive conclusions from a joint stress test with international expert institutions.

“The cost of Ukrainian PSG and GTS services is more competitive than in partner countries, which makes storage advantageous, given the stable gas prices and high PSG utilisation levels in the EU. We see that this factor influences the increase in the rate of gas injection into Ukrainian underground storage facilities by European companies,” emphasised Deputy Minister Kolisnyk.

Ukraine is “actively working” to increase the guaranteed capacity at interconnection points to promote greater integration of the country’s gas transportation system into the European GTS, Minister Kolisnyk added.

As of mid-September, foreign traders injected over 1.8 billion cubic metres of natural gas into Ukrainian storage facilities, according to Ukraine’s Minister of Energy German Galushchenko. This became possible, in part, due to the certification of the PSG operator Ukrtransgaz in line with EU standards, Ukraine’s Energy Ministry noted in a press release.

Separately, Ukraine now has 14.7 billion cubic metres of gas stored in its UGS facilities for domestic use, Minister Galushchenko announced yesterday (19 September). As a result, the Ukrainian government has met its target balance of natural gas in storage necessary for the heating season, ahead of schedule.

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