Brussels, 09/03/2015 (Agence Europe) - Ukraine will have to buy 12 billion cubic metres of gas to lift its stocks from 8 billion to 20 billion cubic metres before winter 2015-2016, Commission Vice-President with responsibility for Energy Union Maros Sefcovic said on the sidelines of the Energy Council on Thursday 5 March.
Sefcovic said that the reserves of 8 billion cubic metres of gas that Ukraine currently holds are perfectly able to ensure the transit of European purchases of Russian gas. But Ukraine will, he said, have to increase its reserves to 20 billion cubic metres, so the government will have to buy the outstanding 12 billion cubic metres either from EU countries or from Russia. He made it clear, however, that the three options for carrying gas bought in the EU by means of reverse flows along the gas pipelines linking Poland, Hungary and Slovakia with Ukraine are limited.
Of the 50 billion cubic meters of gas consumed annually by Ukraine, 40% comes from domestic production and the remainder is bought from Russia. A provisional supply agreement for winter 2014-2015, reached under EU mediation in October 2014, expires on 31 March and Gazprom intends to review the prices it will charge from 1 April. Sefcovic hopes to be able once again to mediate between Russia and Ukraine on a new agreement on the supply of Russian gas to Ukraine. (Emmanuel Hagry)