European Gas Companies Store Gas in Ukrainian GSF

by Olha Povaliaieva
Tuesday, August 15, 2023
European Gas Companies Store Gas in Ukrainian GSF

10 bln m³ of underground gas storage in the western part of the country with an input price of €30 per MWh

Another 3 European gas traders reported that they started using Ukrainian gas storage facilities to store their gas. In the process of preparing for the new heating season, European gas storage facilities will be 90% full by November this year. Therefore, it is now economically profitable and reliable to use Ukrainian GSFs.

"EP Commodities transports natural gas to Ukraine and uses Ukrainian gas storage facilities," Miroslav Hasko, chairman of the Czech EPH's group.

"We believe in the reliability of the Ukraine's gas transport and storage systems, which proved themselves even in such an immensely difficult wartime situation."

"Czech EPH group told Reuters its decision to use Ukrainian storage was also a sign of confidence in the country," Reuters. 

The area of Ukraine's underground gas storages is 30 billion cubic meters, 10 billion m³ of which 10 billion m³ are available for injection and are located in the western part of the country — far from the battle line. At the same time, Naftogaz reports that the capacity can be increased by 100 TWh. The Dutch futures market TTF informs that gas injection today and gas deliveries in September cost €30 per MWh, and in the first months of 2024, already €49.

"We consider gas storage in Ukraine as one of the interesting business opportunities that we are currently considering," Slovak state gas company SPP.

Downloading takes place virtually and in real-time through Hungary, Poland and Slovakia.

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