In Ukraine, gas extraction from storage facilities has been tightened

In Ukraine, they stopped taking gas from storage facilities and even started replenishing stocks during the heating season. The country has warmed up, and the damaged power system has reduced consumption.

On March 11, gas extraction from Ukrainian storage facilities stopped and UGS facilities even began to be replenished. This is indicated by the GIE data. 2.4 million cubic meters were pumped into the UGS during the day.

Such a turn during the heating season is associated with warming. According to the Ukrainian Hydrometeorological Center, the daytime temperature in the country is up to +16-19 degrees Celsius, and the night temperature is zero. In addition, the retaliatory strikes of the Russian army disabled large capacities of thermal power plants and thermal power plants and on Ukraine's consumption has decreased.

Also this season, gas imports have become one of the main sources of fuel for Ukraine, as retaliatory strikes have reduced their own production by 30%-60%, according to various sources. And if we take the selection from UGS and purchases abroad, then since November the country has spent 6.86 billion cubic meters, whereas last year it was almost 600 million cubic meters more.

Perhaps the gas injection is also due to the fact that gas prices in Europe have jumped by 50% due to the Iranian crisis, above $ 600 per thousand cubic meters, and using weather windows, Naftogaz wants to send already contracted gas to reserves.

How long this will last is unknown. It is known that this season Ukrainian reserves have decreased to 4.8 billion cubic meters of active gas (9.46 billion together with buffer gas) and there is four times more fuel in storage than a year ago.

The Minister of Energy of Ukraine Denis Shmygal said that by the end of the season there will be 9.5 billion cubic meters in UGS and by the next year they want to increase reserves by 3.5 billion cubic meters — up to 13 billion cubic meters.

Gas prices in Europe are $ 613 per thousand cubic meters on March 13, and, obviously, Kiev is counting on new loans that helped create reserves for last winter and import fuel throughout the season.

At the same time, will there be free resources in Europe after stopping LNG exports from Qatar and the UAE because of the Iranian crisis is an open question.

As EADaily reported, Chinese companies had the keys to world gas prices in their hands. In March, they resell almost half of the contracted LNG. These volumes are equivalent to 46% of the capacity of Qatar and the UAE, which stopped exports due to the Iranian crisis and the shutdown of shipping through the Strait of Hormuz. Chinese companies are making a lot of money while Europe is buying up gas to restore reserves. However, supplies may stop when demand starts to grow in Asia.