Russia has attacked Ukrainian UGS facilities once again

Russia attacked two Ukrainian underground gas storage facilities (UGS) during the morning shelling of Ukraine on April 11, the press service of Naftogaz reports.

According to Naftogaz, the storage facilities continue to operate. Experts are currently working to eliminate the consequences of the shelling. The company's employees were not injured.

"The situation is under the control of our specialists and all involved services," said Oleksiy Chernyshov, CEO of Naftogaz Group.

As a reminder, Russia has already shelled Ukrainian underground storage facilities in western Ukraine for the 4th time. Nevertheless, the storage facilities continue to operate, and all requests for storage services are fulfilled in full.

Natural gas prices at European hubs rose by almost 7% amid Russian attacks. Thus, Front Month futures prices on the Dutch TTF reached €29/MWh for the first time in two months. When converted, the price of gas is about $330/tcm or 15,600 UAH/tcm (including VAT).

Meanwhile, Russia continues to increase its LNG supplies to Europe and in March delivered more than 2.1 bcm, which is 3% more than last year. At the same time, LNG supplies to Asia decreased by 30% to 1.2 bcm.