Companies Store Natural Gas In Ukraine As EU Sites Near Capacity

Despite the risks of war, energy firms are storing growing volumes of natural gas in Ukraine’s storage facilities as the EU’s sites are nearing capacity, the Financial Times reports. Gas storage sites across the EU are now more than 99% full, according to data from Gas Infrastructure Europe. The European Union hit its target to have storage 90% full by November 1 months in advance. Despite the high levels of storage, supply risks still exist.

The commodity can be bought anywhere and sent to Ukraine via reverse flows in pipelines from Hungary, Slovakia, and Poland. With the EU storage nearly full, Ukraine’s available capacity could help the bloc ease gas supply concerns ahead of the winter, Brussels-based think tank Bruegel said in an analysis in July. Ukrainian gas storage could help Europe’s security of supply, as the EU can use spare capacity in Ukraine to top up stored gas volumes for the coming winter, Bruegel said.

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