Ukraine Expects More Gas Traders to Tap Its Storage by September [BNN Bloomberg (Canada)]
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Source: BNN Bloomberg
“There might be a physical necessity of using Ukrainian storage” by that month, with European storage sites well-stocked following a mild winter, Oleksiy Chernyshov, chief executive officer of state-run Naftogaz, said in an interview in Berlin. “Traders are able to take the risk,” he added, noting that the cost of storing gas on vessels at sea is relatively high. Naftogaz has been actively courting European customers to boost fuel inventories in Ukraine, despite at least seven Russian attacks on its gas infrastructure in recent months, according to Chernyshov. Ukraine is offering about 10 billion cubic meters in its underground facilities — roughly a third of the country's storage capacity — which is greater than any other on the continent west of Russia. Traders have so far been cautious due to the security risk and because they need a wide spread between summer and winter gas prices to make storage operations profitable. Naftogaz is hoping that traders outside of the country
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