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Finance

Ukraine encourages European gas traders to use available gas transportation and storage capacities

“The Ukrainian gas infrastructure is a crucial component of the European gas transport system. More than 200 European traders use the Ukrainian gas transport infrastructure annually, and their number continues to grow,” highlighted Deputy Minister of Energy of Ukraine Mykola Kolisnyk during his speech at the Budapest LNG Summit.

The deputy minister noted that despite the military actions in Ukraine, exchange products, new services of GTS and PSG operators and new supply routes, such as the “Vertical Corridor“, are being developed. He underlined that the reliability of the partnership is evidenced by the fact that, despite the war and Russia’s intentions to destabilise the situation, the Operator of the GTS of Ukraine and “Ukrtransgaz” continue to fulfil requests, and the system works stably.

“We encourage European traders to use the available gas transportation and storage capacities, particularly along new routes. The Eastern European gas market is borderless, and the available infrastructure allows us to build a highly liquid gas market,” Mykola Kolisnyk emphasised. According to the deputy minister, one of the important principles of the formation of a new market model in Europe should be the diversification of natural gas supply directions, in order to prevent the repetition of price manipulations, as Russia once did, using its monopoly position on the European market.

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