How Ukrainian gas storage facilities could help Europe to achieve energy independence?

Ukraine has one of the largest and most advanced networks of underground gas storage (UGS) facilities in Europe, with a total active capacity of 31 billion cubic meters. These facilities play a vital role in ensuring the reliable and uninterrupted supply of natural gas to Ukraine and its European partners, especially during peak demand periods or supply disruptions.

However, Ukraine's UGS facilities are not fully utilized, as the country only fills about 20-26 billion cubic meters of its available storage space. This means that there is a significant potential for Ukraine to offer its excess storage capacity to European customers, who could benefit from having a strategic reserve of gas near their markets.

By storing gas in Ukraine's UGS facilities, European customers could reduce their dependence on external suppliers, such as Russia, and increase their energy security and diversification. Moreover, they could save on transportation costs and fees, as Ukraine's UGS facilities are well connected to the European gas transmission network. Additionally, they could contribute to Ukraine's economic development and stability, as well as its integration into the European energy market.

Ukraine has already taken steps to make its UGS facilities more attractive and accessible for foreign customers, such as introducing a customs warehouse regime, simplifying the procedures for booking capacity and injecting or withdrawing gas, and lowering the tariffs for storage services. Furthermore, Ukraine has participated in regional initiatives, such as the SEEGAS project, to enhance the cooperation and coordination among UGS operators in Southeast Europe.

In conclusion, Ukraine's UGS facilities can become a valuable asset for Europe's energy independence and security, as they offer a large and flexible storage capacity that can be used to balance supply and demand fluctuations, hedge against price volatility and supply risks, and support the integration of renewable energy sources. Ukraine is ready and willing to share its UGS potential with its European partners, and invites them to explore the opportunities and benefits of storing gas in its territory.