Only 8 bcm of natural gas at Ukraine's disposal this winter – expert

Energy expert Yuriy Kovalchuk says that only 8 billion cubic meters (bcm) out of 22 bcm of natural gas stored in Ukraine's underground storage facilities is at the country's disposal.

"First, we need to come through the current heating season, because if there is a halt to transit supplies of Russian gas, there will be many problematic situations. And I would say that it's good that Minister [of Energy and Environmental Protection Oleksiy] Orzhel assures that there are enough gas reserves. It would be weird if he had said the opposite ... that he had doubt. But you need to understand that the problem is the following: despite statements that there is 22 bcm in stock, one must be aware that out of all that gas, the real, actual amount of gas that can be used is less than 8 bcm," the expert said.

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"The rest of the gas is that: 6 bcm is the [so-called] cushion stock, and almost 8 bcm is the gas that belongs to European companies, traders who store it in a sort of warehouse. The problem is that NJSC Naftogaz has not signed agreements with those companies," he said.

If Russia stops supplying gas via Ukrainian territory, then Ukraine will be in a situation where the question of the price of the gas that is currently stored in [Ukraine's] gas transportation system would be sold by those companies to Naftogaz remains open, he said.