Tuesday, May 17

Ukraine’s gas reserves at 9.5 bln cubic meters, production continues – PM


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Ukraine’s gas reserves amount to 9.5 billion cubic meters (bcm) with production continuing at all facilities except at plants in areas where fighting is taking place, Prime Minister Denys Shmygal said late on Saturday.

Imports continue from Hungary, Slovakia and Poland, Shmygal said in a video address.

Before Russia’s invasion, Ukraine consumed around 30 bcm of gas per year, producing 20 bcm and importing the remaining volumes from Europe.

Ukraine used to import Russian gas but switched to European energy in November 2015 after Russia’s annexation of the Ukrainian Crimea peninsula in 2014 and the outbreak of war in eastern Ukraine.

Separately, Shmygal said that 50.8 billion hryvnia ($1.74 billion) was transferred to the budget reserve fund from programs that cannot be implemented in wartime.

“Such a decision allows for operational needs of the security and defense sector,” he added. ($1 = 29.2500 hryvnias) (Reporting by Lidia Kelly; Editing by Sandra Maler)



financialpost.com