Ukrtransgaz becomes the guarantor of energy security for EU countries

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guarantor of energy security

The growing demand of Ukrainian underground gas storage (UGS) facilities by foreign traders remains a key trend in UGS operations for 7 months of 2020, reports Ukrtransgaz.

At the beginning of August, the total supply of natural gas reached 22 bcm – the highest level since Ukraine became independent. At the same time, non-resident companies store 5,2 bcm of gas in Ukraine. This is almost four times more than last year. Thus, Ukrainian UGS becomes the guarantor of energy security for Ukraine as well as EU countries.

“The Ukrainian gas market has become the safety valve of Europe and the latest record import levels are more than proving this,” Andrii Prokofiev, head of client relations for Ukraine’s transmission system operator, tells London-based International Commodity Intelligence Services.

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