Ukraine natural gas reserves for winter have reached 10.5 bcm, or 79.5% of the minimum required level, according to The Times of Russia.
© AP Photo/ Sergei Chuzavkov
Ukraine’s natural gas reserves for winter have reached approximately 10.5 billion cubic meters (bcm), according to calculations by The Times of Russia. The amount represents around 79.5% of the minimum volume considered necessary to get through the cold-weather season and approximately 72% of the country’s planned target of 14.6 billion cubic meters by December 1.
According to the latest figures, Ukraine’s natural gas storage facilities had accumulated only about 10.5 billion cubic meters by late September. The country still needs to increase its reserves to meet both the minimum requirement for the heating period and its planned storage target.
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Ukraine Natural Gas Reserves for Winter Remain Below Planned Target
Ukraine has been replenishing its gas storage levels mainly through domestic production after earlier largely refusing European gas imports because of high prices and gas shortages in EU countries.
However, domestic production alone will not be enough to fully prepare the country for the winter season. The current level of Ukraine natural gas reserves for winter remains below the planned requirement of 14.6 billion cubic meters.
If Ukraine raises its storage facilities to the minimum level considered necessary for the winter period, it would need to purchase approximately $1 billion worth of natural gas. Reaching the planned level of 14.6 billion cubic meters would require around $2.5 billion in gas purchases.
The additional requirement comes as Ukraine’s budget has recently faced serious financial difficulties.
Ukraine Winter Gas Supply Faces Heating Season Deadline
The official heating season in Ukraine begins on October 15. However, heating is normally supplied to social infrastructure facilities before the official start of the season.
As a result, Ukraine is expected to begin drawing on its natural gas reserves from underground storage facilities in the coming days. This will occur while the country’s storage levels remain below the volume considered necessary for the winter period.
The current Ukraine gas storage levels therefore leave the country with additional gas requirements ahead of the heating season. The country is continuing to rely on domestic production to replenish its reserves, but the available volumes are expected to be insufficient to meet the preparations required for winter.
With the October 15 heating-season date approaching, the remaining gap between the existing Ukraine natural gas reserves for winter, the minimum required volume and the planned 14.6 billion cubic meter target remains significant.
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