Economics

Help Europe: As Ukraine saves EU from the Gas Needle Needle

According to Energy Minister Herman Galushchenko, the use of Ukrainian PSG helps to ensure the energy security of the entire European continent. Ukraine received almost 600 million cubic meters of gas from European traders and has already pumped them into its underground gas storage facilities. This was announced on Bloomberg by Energy Minister Herman Galushchenko.

He noted that Ukraine disposes of the largest gas storage facilities in the EU, which can store more than 30 billion cubic meters of fuel. "As it can be seen from the trend of recent months, European companies are starting to store gas in Ukraine, even despite the war. It is a good sign for us and Europe as a whole," he said.

The Ukrainian Minister also added that the EU gas storage facilities are almost filled with fuel for the autumn and winter, so the use of Ukrainian PSGs "plays a significant role in ensuring the energy security of the European continent as a whole. " Herman Galushchenko stressed that European traders can pump up to 15 billion cubic meters of gas for storage into Ukrainian gas storage facilities.

It should be noted that in early August 2023, the Reuters reported that the EU countries planned to fill their repositories by 90% by November 1. Therefore, according to journalists, Ukraine, while maintaining European gas in its territory, will earn foreign exchange revenue, while the Russian Federation loses billions of dollars due to reducing its gas supplies to the EU.

At the same time, Naftogaz of Ukraine reported that foreign traders can be stored in Ukraine without customs clearance for 3 years and re -exported to gas storage facilities to other countries. In November 2022, the Ukrainian authorities announced the certification of Ukrtransgaz, which will allow the company to become a European operator of gas storage facilities.

As a result, our country will be able to store strategic gas reserves of EU gas in its PSG, which will increase the revenues from underground storage services. In addition, Ukraine will have the opportunity to become a strategic partner of Europe in the gas sphere, strengthen its own energy security, deepen European integration processes and develop its own gas market. Also earlier, Focus spoke about the gas market situation after the start of a full -scale war with Russia.