Gas reserves in the "customs warehouse" of Ukrainian UGS exceeded 2 bcm

The volumes of natural gas stored in the "customs warehouse" of Ukrainian underground gas storages (UGS) exceeded 2 bcm on September 2, according to ExPro calculations. "Customs warehouse" is a special mode of gas storage in Ukrainian warehouses, which allows companies to store gas without paying taxes and customs duties for 1,095 days.

The increase in the volume of gas stored in the "customs warehouse" is connected with the active injection of imported gas in recent months. One may remind that in August gas imports to Ukraine increased to a maximum in three years - almost 1.1 bcm.

As of July 1, less than 0.3 bcm of natural gas was stored in the "customs warehouse" of the Ukrainian UGS. During July-August, 1.7 bcm of gas was injected into the "customs warehouse". Gas reserves in the "customs warehouse" exceeded 2 bcm for the first time since November 2021.

Both foreign (non-resident) and Ukrainian (resident) companies store natural gas in the "customs warehouse" of Ukrainian UGS. Moreover, among non-residents there are companies that are "daughters" of Ukrainian companies.

The Moldovan state company Energocom stores the most gas in the "customs warehouse" - almost 480 mcm as of August 2, or 24% of all gas stored in the "customs warehouse".

Among other companies that store significant gas reserves in the "customs warehouse" of Ukrainian UGS are ERU Group, D.Trading, EP Commodities, Trafigura, Vitol, Shell, Gunvor and others.

According to ExPro estimates, if the current rate of gas import to Ukraine is maintained, by the end of September, gas reserves in the "customs warehouse" may reach 3 bcm.