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The CEO of Ukraine's national energy company has urged EU nations to assist in safeguarding its natural gas storage facilities against recent Russian attacks so they can keep contributing to lower prices across the continent.
"It is of interest of the EU to protect storage, transportation and production [facilities], given that Ukraine’s gas infrastructure is 'well integrated' into Europe’s energy system," Naftogaz Group CEO Oleksii Chernyshov said, according to the Financial Times (FT).
Gas storage sites in western Ukraine have faced multiple attacks in recent months, with only above-ground facilities sustaining damage, Naftogaz said. However, the underground storage tanks, some as deep as three kilometers beneath the surface, have remained unaffected.
"Technologically, we’re all fit, and we have managed to repair the [damaged surface] equipment and we fulfill our obligations [to our customers]" after the attacks, Chernyshov said.
Three attacks on gas storage facilities have been disclosed since March, marking the initial documented cases of the Kremlin targeting these locations.
Ukrainian gas storage proved pivotal in bolstering the EU's energy security last year, offering European nations an alternative to depleting their reserves. Despite the risks posed by Russia's full-scale invasion, Ukraine's storage facilities emerged as a viable option, thanks partly to incentives such as economical storage tariffs and customs duty exemptions facilitating easy gas reimportation to the EU.
According to Chernyshov, European stakeholders remain interested in utilizing the storage facilities this year. The company aims to increase the volume of European natural gas stored in Ukraine from 2.5 billion cubic meters last year to four billion this winter.
Dominic Culverwell
