Ukraine's Natural Gas Storage at 79.5% of Minimum Required Level for Winter
Quick Look
- Ukraine has accumulated only about 10.5 billion cubic meters of natural gas in underground storage by late September, which is 79.5% of the minimum volume needed for winter and 72% of the planned 14.6 billion cubic meters by December 1.
- The country would need to spend approximately $1 billion to reach minimum required levels or $2.5 billion for the planned level, amid budget problems and reduced European gas imports due to high prices and EU shortages.
AI-generated summary
Why It Matters
Ukraine had previously refused European gas imports due to high prices and gas shortages in EU countries, and is now relying on domestic production to replenish storage facilities, though these volumes are insufficient for winter preparations.
MOSCOW, September 28. /TASS/. Ukraine had accumulated only about 10.5 billion cubic meters of natural gas in its underground storage facilities by late September, and it is approximately 79.5% of the minimum volume required to get through the cold weather season and about 72% of the planned level of 14.6 billion cubic meters by December 1, according to TASS calculations.
Earlier, Ukraine virtually refused European gas imports citing high prices and gas shortages in EU countries, and it is now replenishing its storage facilities resorting to domestic production, but these volumes will be insufficient for the country’s preparations for the winter season.
If the storage capacity is brought to the level of the minimum required volumes, the country needs to purchase natural gas worth about $1 billion, while the planned level of 14.6 billion cubic meters amounts to about $2.5 billion. Meanwhile, Ukraine’s budget recently faced serious problems.
The heating season in Ukraine officially starts on October 15, but the heating is usually supplied to social infrastructure facilities before that date. Therefore, Ukraine will have to start using up gas reserves in the days to come from storage facilities that have not been filled to the required level.
What to Watch
AI outlook — possibilities, not facts
Ukraine will need to purchase natural gas worth approximately $1 billion to reach minimum required storage levels for winter
Very likely · Within weeks
Ukraine will start using gas reserves from storage facilities in the days to come as heating season approaches
Certain · Within days
Open Questions
- What specific domestic production volumes is Ukraine using to replenish storage?
- How will Ukraine finance the estimated $1-2.5 billion needed for gas purchases?
- What alternative energy sources is Ukraine considering for the winter season?
