Ukraine expects the development of guarantees for companies that want to store gas in Ukrainian UGS

The Ukrainian delegation, which included the Minister of Energy of Ukraine Herman Galushchenko and the head of Naftogaz of Ukraine NJSC Oleksiy Chernyshov, met with the EU Commissioner for Energy Affairs Kadri Simson in Brussels.

One of the main topics of the meeting is stimulating the development of multilateral financial guarantees for gas market participants who want to work in Ukraine. Most likely, we are talking about companies that can store gas in Ukrainian underground storage facilities.

"European Commissioner Simson assured that the working group under her leadership on supporting Ukraine will start developing such a mechanism. It is important that we are already talking about what the oil and gas industry of Ukraine will be like after our victory. This is an extremely powerful signal and a basis for strengthening our common energy security," Chernyshov said at the end of the meeting.

As reported by ExPro, non-residents currently store small volumes of gas in Ukrainian gas storage facilities - about 20 mcm. The war that Russia unleashed in Ukraine did not encourage European companies to work more actively in Ukraine. However, by the next heating season, Ukraine has a high chance of attracting more foreign companies to use the Ukrainian UGS.