Ukraine extends the deadline for gas accumulation

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Ukrainian government has announced an extension of the deadline for gas accumulation in its underground storage facilities. Citing a government resolution published Friday, Platts.com informs that the deadline will be extended by two weeks – from October 15 to November 1.

Last week the country’s officials announced a new target: the government plans to accumulate 17 Bcm of natural gas by the start of the high-demand season. According to the abovementioned resolution of the Ukrainian government, the responsible parties – the energy and coal industry ministry, the finance ministry, the economy ministry and the energy company Naftogaz Ukrayiny – are to draft and approve a new gas accumulation schedule by September 15.

Ukraine had 12.56 Bcm of gas in its underground storage facilities as of September 1, according to Naftogaz estimates. Industry experts suppose that by the planned deadline the country will be able to store up to 16.5 Bcm. It means that Ukraine will probably have to import at least 500 million cu m of natural gas from Russia to provide the needs during the high-demand season.