Monday, January 18, 2021
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Ukrainian UGS facilities keep attracting European traders

Key performance indicators of Ukrainian underground gas storage (UGS) facilities are higher than in the last year.

In May the demand for UGS services by European gas market players increased significantly. In particular, non-residents stored 2.0 billion cubic metres (bcm) of gas in a custom warehouse regime. This is four times more than in the same period last year.

“In May this year the services of Ukrainian UGS were in high demand by foreign traders,” commented Sergiy Oleksienko, CEO of Ukraine’s gas transmission operator Ukrtransgaz. “We are sure, that this trend will continue in the coming months. The filling level of European gas storage facilities quickly approaches the maximum. For example, in Austria today it is almost 85 per cent, Germany – 84 per cent, Italy – 68 per cent. In Ukraine, this figure is 58 per cent.”

At the beginning of June natural gas reserve of Ukrainian UGS facilities is 18 bcm, 57 per cent up compared to last year’s figures. Furthermore, 4,1 bcm of gas were injected to UGS (5 per cent more over the same period last year). Among them, 2,2 bcm were injected in custom warehouse regime, including 0,9 bcm by residents and 1,3 bcm by non-residents. 

“Today we have about 13 bcm of available capacity, competitive conditions and unique opportunities for efficient use of Ukrainian UGS facilities,” added Mr Oleksienko. “Therefore, we are ready to continue involving European traders in cooperation.”

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