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Ukraine Gas Storage Rises to 9.5bcm Amid Strong Injections

NATGAS

Underground natural gas storage in Ukraine has reached 9.5bcm as of July 3 with injection rates higher than last year despite war time challenges, according to Naftogaz CEO Oleskiy Chernyshov.

  • Ukraine's state energy company has increased domestic gas production and pumped into storage ahead of winter amid a severe power crisis.
  • Russian missile and drone attacks have knocked out about half of Ukraine's available generation capacity, according to Reuters.
  • Naftogaz raised its domestic gas production by 8% to 7.3bcm in H1 2024.
  • Gas stocks were estimated at 9bcm, on June 17 according to Naftogaz data.
  • "A very big challenge ahead of this winter is energy supply and generation of additional electricity volumes. We should count on additional volumes that could be generated with the natural gas," Chernyshov said.
  • The country is aiming to reach volumes of more than 13bcm at the start of the 2024-2025 heating season.
  • Ukraine gas stocks in Nov. 2023 were 16bcm and 8.5bcm was withdrawn last winter, with 6.7bcm used by Ukraine.
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