On August 13, natural gas reserves in Ukrainian underground gas storage facilities (UGS) amounted to almost 13.08 bcm, according to ExPro calculations, which confirm Naftogaz data. This is the total volume of gas in storage facilities, which includes both active gas and long-term storage gas. Thus, Ukrainian UGS are filled by 42%. Compared to last year, 5% or 650 mcm more gas is stored in storage facilities.
Natural gas reserves in Ukrainian gas storage facilities continue to grow gradually, as Ukrainian and foreign companies continue to inject natural gas into storage facilities.
Natural gas injection volume increased from the beginning of August to 51-67 mcm per day, the highest levels since September 2020. The increase in the injection volumes is connected with the activation of Ukrainian and foreign companies that import natural gas to the "customs warehouse".
Against the background of the fullness of European UGS, foreign companies use Ukrainian UGS. Thus, as of August 13, 95.8 bcm of natural gas were stored in European gas storage facilities, and the storage facilities are 89.5% full. Probably, already on August 15, reserves in European UGS reached 90%, as predicted in ExPro publications.
Oleksiy Chernyshov, head of Naftogaz Ukraine, noted that the world's largest energy companies are already injecting natural gas into Ukrainian gas storages. It was also noted that 19 foreign companies store gas in UGS of Ukraine. According to ExPro estimates, as of mid-August, more than 20 non-residents are storing gas in storage facilities.
Among non-residents, it is worth noting the Moldovan state company Energocom, which actively injects natural gas into the "customs warehouse", creating its own reserves. As of August 13, according to ExPro estimates, the company has accumulated almost 400 mcm of gas in Ukrainian UGS.
During the first 13 days of August, about 800 mcm of natural gas were injected into Ukrainian UGS, of which more than 450 mcm went to the "customs warehouse". Thus, more than half of the gas injected into UGS in August comes from abroad.
On August 13, gas reserves in the "customs warehouse" of the Ukrainian UGS exceeded 1.3 bcm, of which more than 550 mcm were injected using the short-haul service. Currently, all gas imported from abroad is injected into UGS.
Currently, the "customs warehouse" of Ukrainian UGS stores the most gas since December 2021, and the storage volumes continue to grow.
It should be noted that on August 11, the volumes of gas injected into UGS of Ukraine decreased to 51 mcm, the lowest level since the beginning of the month. This decline is due to a sharp increase in natural gas prices in Europe, as a result of which spreads between current gas prices in Europe and winter prices have narrowed, making gas storage in Ukrainian gas storage facilities less attractive. Nevertheless, the injection of gas into Ukrainian UGS continues, including to the "customs warehouse", having recovered to a level of more than 30 mcm per day.
By the beginning of September, according to ExPro forecasts, gas reserves in Ukrainian UGS may exceed 14.1 bcm, of which 1.9 bcm of natural gas will be stored in the "customs warehouse".
One may remind that by the beginning of the heating season, Ukraine plans to accumulate at least 14.7 bcm of natural gas in storage. We can almost certainly say that this indicator will be exceeded. However, the passage of the heating season will also depend on the behavior of traders who injected gas into the "customs warehouse". Foreign companies most often inject gas into a "customs warehouse" for the purpose of further re-export, while Ukrainian companies consider the option of selling gas on the Ukrainian market at favorable prices.