Ukraine hopes to transport in the medium term up to 150 billion cubic meters of natural gas through its gas transit system every year, Deputy Prime Minister Volodymyr Kistion has said.

"The capacity of the Ukrainian gas transit system to meet the needs of consumers in the European Union is up to 150 billion cubic meters per year. This figure may be strange to someone, but I want to draw your attention to the fact that until 2050 the demand for natural gas in Europe will be consistently high," he said at a government meeting in Kyiv on Wednesday, while presenting the country's gas sector development strategy.

According to him, the points for receiving Russian gas for its transit should be located on the eastern border of Ukraine.

In addition, by 2035 Ukraine plans to increase domestic gas production to cover its own needs and start gas exports in the amount of about five billion cubic meters.

Kistion also noted that the energy intensity of the Ukrainian economy should be halved before 2035 and that the loading of underground storage facilities would grow.

The capacity of Ukraine's gas transport system is 288 bcm at the entrance and 178.5 bcm at the exit, of which 142.5 bcm goes to European countries and 3.5 bcm goes to Moldova. Ukraine also operates a system of 12 underground gas storage facilities with a total capacity of 31 bcm.

Naftogaz Ukrainy unites oil and gas production assets in Ukraine, and is the country's gas transit, underground gas storage, and oil pipeline transportation monopoly.