European interest in Ukrainian gas storage is growing.

Tuesday, January 10, 2023
European interest in Ukrainian gas storage is growing.

The operator of GTS of Ukraine (OGTSU) explained that the gas price at European hubs has dropped to pre-war levels. Currently, EU gas storages are filled to more than 80% of capacity and are resuming the pumping season. Traders used gas storage services from Poland, Slovakia, Hungary, and Moldova, who in turn stored gas in Ukrainian storage facilities or used the short-haul service. The company said that gas from Poland was transported to Slovakia via Ukraine, and Moldova has finally implemented a reverse flow capability and is actively using Ukrainian storage facilities to store its gas supply for the winter. According to OGTSU, more than 1,000 customers from 26 countries keep their gas in Ukraine. The difference between prices on the short-term and long-term markets as early as autumn 2022 pushed Europeans to pump gas into Ukrainian storage facilities as well.

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