Ukraine rules out gas storage tariff increase until 1 April 2025

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Ukrainian state-owned energy company Naftogaz announced on Monday (18 March) that Ukraine’s tariffs for underground gas storage customers will remain unchanged until 1 April next year.

“One of our key objectives for 2024 is to increase the volume of gas stored by foreign energy companies in Ukraine’s underground storage facilities. Last year, despite the war, foreign traders entrusted us with 2.5 billion cubic metres of gas. We need to maintain their trust and attract more partners. Tariff policy is a key factor demonstrating our attractiveness and stability,” said Naftogaz Group CEO Oleksiy Chernyshov.

Naftogaz Group, which manages Ukraine’s underground gas storage (UGS) operator Ukrtransgaz, also offers companies the option of storage in “customs warehouse” mode, allowing storage of gas for 1,095 days without paying taxes and customs duties along with the possibility of trading on domestic and foreign markets.

“More than 160 foreign energy companies from 32 countries around the world use store gas in ‘customs warehouse’ mode in Ukraine’s UGS. We are actively preparing for the injection season so that both Ukrainian and foreign companies can smoothly inject significant volumes of gas into storage,” said Roman Malyutin, head of Ukrtransgaz.

As noted by Naftogaz in a press release, Ukrtransgaz has already begun preparations for the start of this year’s gas injection season, which begins in April. The company is currently conducting scheduled checks and maintenance of main and auxiliary equipment.

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