2022-06-21T17:48:00+03:00 Economy 2024-09-15T07:10:12+03:00

Ukrainian news

Naftogaz Plans To Start Importing Liquefied Natural Gas In Q4

Naftogaz Plans To Start Importing Liquefied Natural Gas In Q4

The Naftogaz of Ukraine national joint-stock company plans to start importing liquefied natural gas (LNG) in the fourth quarter of 2022.

Yurii Vitrenko, Chairman of the Board of NJSC Naftogaz of Ukraine, said this at a press conference, Ukrainian News Agency reports.

“Regarding gas import directions, Ukraine is integrated into the European market, we can receive gas through pipelines and we receive it. We are currently negotiating LNG supplies in the fourth quarter, there are certain technological limitations, Ukraine has never physically imported LNG. We understand that that we do not have LNG terminals, that is, we must bring LNG to terminals in Europe and then ensure the physical transportation of this gas to Ukraine by pipelines or make the so-called swap operations (trade and financial exchange operation in the form of an exchange of various assets)," he said.

As Ukrainian News Agency earlier reported, Vitrenko says that in order to achieve the level of gas reserves in underground storage facilities (UGS) of 19 billion cubic meters set by the government by the beginning of the heating season 2022-2023, it is necessary to import about 5.8 billion cubic meters of gas for USD 8 billion, while Ukraine turned to the United States with a proposal to supply the missing volumes of gas under the lend-lease law.

Ukraine can import gas from LNG terminals in Greece, Croatia, Poland and Lithuania.