Ukraine Gas Storage Tariffs to Remain Unchanged Until Q1 2025

SEATTLE (Oil Monster): Ukraine announced that gas storage tariffs will remain unchanged until the initial quarter of 2025. The move is aimed at attracting more foreign companies to store their gas in the country.

In a news release, Oleksiy Chernyshov, Group chief executive, Naftogaz said that its key objectives include increasing the volume of gas stored by foreign energy companies in Ukraine’s underground storage facilities. It must be noted that the underground gas storage facilities in Ukraine are operated by Ukrtransgaz JSC- a subsidiary of Naftogaz. Additionally, Ukraine also offers “customs warehouse” arrangement to store gas, where companies could store gas for 1095 days free of taxes and duties.

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In 2023, the country reported storage of 2.5 billion cubic meters of gas, despite the war. The storage facility was used by over 160 foreign companies from as many as 32 countries. Naftogaz’s tariff policy is expected to maintain the trust of existing companies and attract more.

The announcement by Naftogaz says that scheduled checks and maintenance of main and auxiliary equipment are currently underway, ahead of the gas injection season which is set to commence in April. It claimed that over 80% of the country’s underground gas storage facilities are located far from the frontline of the war.