Gas imports to Ukraine fall to the lowest level in over a year

Natural gas imports to Ukraine dropped sharply at the beginning of April to 0.8 mcm/d, the lowest level since January 2025. Compared to the previous day, imports declined by more than 30 times – from 24 mcm on March 31 to 0.8 mcm on April 1.

Reasons behind the decline

A sharp reduction in gas imports from April was expected, as repeatedly reported in ExPro Gas&Oil publications.

The decline is driven by high natural gas prices in Europe, which remained above Ukrainian price levels throughout March. On average, gas in Europe (TTF) traded €9/MWh higher than on the Ukrainian market in March.

European gas prices increased in early March following the escalation of the war in the Middle East. As the conflict continues and LNG supplies from Qatar and the UAE via the Strait of Hormuz remain disrupted, gas prices in Europe continue to stay elevated.

Under such conditions, importing gas to Ukraine remains economically unattractive. At the same time, Ukraine can afford to avoid imports in April, given higher gas inventories in underground storage compared to last year.

Ukraine completed this year’s withdrawal season from underground gas storage on March 10, with the season becoming one of the shortest in the country’s history. Gas stocks in UGS reached 9.5 bcm, 1.6 times higher than last year.

Import structure

Limited gas imports continue in early April at 0.8 mcm/d from Poland. The gas is injected into Ukrainian UGS under the “customs warehouse” regime. No imports are observed from other directions.

Imports are expected to remain low throughout April. Ukraine aims to accumulate at least 13 bcm of gas in underground storage by November 1, 2026, which can be achieved even without imports.

However, to ensure better preparation for the winter season, Ukraine still needs to import certain volumes of natural gas – around 0.5 bcm by November 1. Gas imports are likely to increase if more favorable price conditions emerge at European hubs.

Where to find natural gas market analytics?

Detailed analytics of the natural gas market in Ukraine, including production, imports, exports, UGS reserves, trading results, natural gas prices, key news, etc., are published in specialized publications ExPro Daily Gas, ExPro Gas&Oil Weekly, and ExPro Gas&Oil Monthly.

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