Ukraine’s Naftogaz Sees European Traders’ Gas Stores Doubling
Naftogaz has contracts with more than 100 companies, though far from all are using the available capacity, Chernyshov said.
Photographer: Vincent Mundy/BloombergUkraine’s biggest energy company is seeking to at least double the amount of natural gas it stores for international traders by next winter and boost its own production, defying regular attacks by Russia on infrastructure across the country, according to Naftogaz Chief Executive Officer Oleksiy Chernyshov.
Long one of the key links in gas trade with Europe, Ukraine has more storage capacity than any other country on the continent, west of Russia. But when Vladimir Putin sent troops into Ukraine in February 2022 and Europe scrambled for gas supplies, traders withdrew fuel and the stores held in underground facilities dropped to almost zero. They bounced back last year.