The country will need up to 5 billion cubic meters of gas in the coming year.
Ukraine is preparing for record gas imports from Europe due to a shortage of supplies amid massive Russian attacks on energy infrastructure and the rapid depletion of fuel reserves, which has significantly increased demand, writes Bloomberg.
“We believe that Ukraine will need up to 5 billion cubic meters of gas in the season from April 2025 to April 2026. This significantly exceeds the maximum 1 billion cubic meters imported in previous seasons,” said Dmytro Sakharuk, CEO of D.Trading, which represents the trading division of Ukraine’s largest private energy company DTEK, on the sidelines of the Financial Times Commodities Global Summit in Lausanne, Switzerland.
Ukraine’s gas infrastructure has been severely damaged as part of Russian dictator Vladimir Putin’s strategy to pressure the civilian population during the winter months.
The consequences of the attacks are believed to be much worse than officially reported, making it difficult to estimate the required supply volumes for the next heating season.
The gas purchases will take place in conditions of growing shortages on the market, when prices in Europe are already high before the start of the stockpiling season.
“Ukraine has already used up the so-called buffer stock of gas, which was stored in underground storage facilities as a reserve. Some of the gas must be left in the storage facilities to maintain pressure and ensure the safe operation of the system. These stocks need to be restored. That is why the required volumes are quite significant,” Sakharuk said.
Earlier Russian attacks have mainly targeted collection points, where gas is cleaned and pumped into the transportation system, rather than the fields themselves, where it is produced.
“However, the latest air strikes have reduced the gas production of the state-owned company Naftogaz by almost a third. This has forced the country to purchase more expensive fuel from the EU,” informed sources said last month.
“Even if the attacks on energy infrastructure stop, Ukraine will need time to restore domestic production. In addition, we cannot rule out the possibility of new attacks,” Sakharuk added.
Ukraine has reportedly planned to import about 800 million cubic meters of gas from Europe in February and March to compensate for a 40% drop in its own gas production following a series of Russian missile strikes on the sector.
