Energy minister says Ukraine will have up to 18 bcm of gas, enough for winter
Ukraine is to accumulate 16-18 billion cubic meters (bcm) in its underground storage facilities by winter which should be enough to ensure a comfortable heating season, Ukrainian Energy and Coal Industry Ministry Volodymyr Demchyshyn has said.
"We've got at least a month when we should pump at least one billion cubic meters of gas into the [underground] storage facilities. If there are no force majeure circumstances, there should realistically be 16 billion cubic meters by the beginning of the heating season, which is not that less than last year. Taking into account lower consumption, in fact, the situation isn't that critical, but to feel safe, we plan to get money and pump at least two more billion [cubic meters of natural gas into the underground storage facilities]," he said at a press conference in Kyiv on Tuesday.
Demchyshyn said Ukraine expects international creditors to grant around $200 million in late September for gas purchases.
"We're speaking about $200 million or maybe somewhat more until the end of this month," he said.
He said that the funds granted by the World Bank for the same purpose might arrive no earlier than the end of October.
"Even if the money arrives a bit later, it might be used for taking [gas directly] from the stream. I.e. if we're not able to pump gas for storage, we'll be able to replace [it] with the amount arriving via the reverse route [from Europe] or from Russia, and consume it, while [gas] in storage won't be taken out and kept for the cold spell," Demchyshyn said.
As reported, NJSC Naftogaz Ukrainy is in talks with international financial institutions to raise funds to buy gas as Ukraine lacks the funds required for preparation for the heating season.
The European Bank for Reconstruction and Development is mulling the disbursement of $300 million for this purpose, and the World Bank might grant Ukraine $500 million. What is more, the International Finance Corporation may allocate $200-250 million to foreign traders for buying and pumping gas into Ukrainian underground storage facilities.
