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    Ukraine plans to have 15 bcm of gas in storage next winter - Naftogaz

Summary

Ukraine plans to have 15 billion cubic meters (bcm) of gas in storage for the 2023/24 heating season despite Russia's invasion, the head of state energy firm Naftogaz said.

by: Reuters

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Ukraine plans to have 15 bcm of gas in storage next winter - Naftogaz

KYIV, March 2 (Reuters) - Ukraine plans to have 15 billion cubic meters (bcm) of gas in storage for the 2023/24 heating season despite Russia's invasion, the head of state energy firm Naftogaz said.

Ukraine's main natural gas deposits are in eastern areas affected by the war, but Naftogaz Chief Executive Oleksiy Chernyshov said Ukraine may potentially be able to get by without any imports this year.

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Ukraine was once one of the main buyers of Russian gas but has not imported gas directly from Russia since 2015, instead buying it from the European Union.

"The Naftogaz team is already working on a strategic plan for the 2023/2024 heating season," Chernyshov said in a column for media outlet Ukrainska Pravda.

He said there was around 10 bcm of gas in underground storages and this "allows us to count on sufficient gas reserves for the end of the heating season."

Ukraine built up storage of around 15 bcm of gas for the current 2022/23 heating season, and domestic gas consumption has decreased by at least 40% because of the war, analysts and officials say.

Chernyshov said eastern Ukraine accounted for more than 80% of the state's natural gas production, but the country intended to increase gas production despite hostilities.

"Our goal for this year is an additional 1 bcm. If the total gas production in Ukraine reaches more than 18.5 bcm, we will be able to do without imports altogether," he said.

Last month, Chernyshov said natural gas production could rise by more than 5% this year to 19 bcm. (Reporting by Pavel Polityuk, Editing by Timothy Heritage)