On Friday 16 June, Ukraine’s gas network operator Ukrtransgaz announced that it was opening an underground gas storage customs warehouse based on 10 underground gas storage (UGS) facilities, enabling local and, indeed, international gas traders to store natural gas for 1,095 days without customs clearance (as opposed to the previous 31 days) at the most competitive prices in Europe (0.4 EUR/MW per storage cycle).
Ukrtransgaz operates the largest underground gas storage facilities in Europe with a total capacity of 31 bcm, is therefore hoping to attract foreign traders to make up the unused capacity of more than 50%.
The Ukrtransgaz company said that it intends to offer competitive gas storage services to competitive foreign traders and gas storage services from Central and Eastern European countries that have experienced a deficit of gas storage capacities, including Poland, Hungary, Romania, Slovakia, and Moldova. These countries have a combined storage capacity of less than 4 bcm and have indicated their intentions to invest into the expansion of these Ukrainian capacities.
Ukrtransgaz welcomed this key stage in Ukraine’s long-term strategy for integration into the European gas market and creating gas platforms in Eastern Europe. (Original version in French by Emmanuel Hagry)