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Ukraine’s Naftogaz to Pitch Storage Deals With German Traders in March

NATGAS

Ukraine’s largest oil and gas firm Naftogaz aims to strike deals with foreign traders to boost use of its underground natural gas storage, its CEO Olesksiy Chernyshov told Reuters Jan. 18

  • He said he was in discussion with RWE and Uniper and would visit Germany in March to pitch to clients.
  • Ukraine said that it is ready to provide up to half of its 30 bcm gas storage for use by foreign traders. Currently, non-resident users have access to 2.5 bcm of Ukraine’s storage.
  • Traders previously told Reuters in 2023 that European market participants had started utilising Ukraine’s gas storage to capitalise on lower prices and higher availability.
  • This is despite the ongoing risks due to the war with Russia.

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