Gas reserves in Ukrainian UGS exceeded 9 bcm

Natural gas reserves in Ukrainian underground gas storage (UGS) facilities exceeded 9 bcm as of July 17, according to ExPro data. The storages are 29.2% full.

Compared to last year, the volume of gas in storage is 13.9% or 1.45 bcm lower. This year’s reserves level remains the lowest in at least the past 12 years, although the gap is narrowing. For the first time since the start of this year’s injection season, the gap behind last year fell below 15%.

As previously reported by ExPro, gas reserves in Ukrainian UGS exceeded 8 bcm on June 28.

Gas injections

Gas injection volumes remain significantly higher than last year. Since the beginning of July, over 940 mcm of natural gas have been injected into Ukrainian UGS, 1.9 times more than in the same period last year. Total injection in July is expected to exceed 1.7 bcm, which would be the highest monthly volume in two years, since August 2023.

In total, since the beginning of this year’s injection season (April 17), more than 3.5 bcm of natural gas have been injected into storage, 1.5 times more than last year. This is even though last year’s injection season started earlier, on March 31.

The average daily injection volume in July stands at 55.4 mcm, 23% higher than in June. The increase in gas injection volumes in July is linked to higher import volumes, up to 26.8 mcm per day.

How much gas is needed?

By the start of the next heating season (November 1), Ukraine needs to accumulate at least 13 bcm of natural gas in storage. This means that about 4 bcm still needs to be injected. If the current pace of injection is maintained, the target could be reached ahead of schedule.

However, in the coming months, injection volumes may decline due to increased gas consumption, especially in September–October. According to ExPro estimates, by early August, gas reserves in Ukrainian UGS will reach 10 bcm.

Part of the gas will be covered by domestic production, while the rest will have to be imported. According to ExPro’s baseline scenario, around 1.5 bcm of gas needs to be imported in August–October to reach 13 bcm in storage by November 1. To reach 13.5 bcm, 2 bcm of gas would need to be imported.

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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