Increased risk and lack of price incentives diminish appeal of the country’s facilities
European traders this summer are using only a fraction of Ukraine’s vast natural gas storage, following Russian attacks that drove up risks, depriving the war-torn country of scarce revenues. Ukraine has the largest underground storage facilities in Europe and last year provided EU companies with valuable space to park their excess gas ahead of winter.
“The main issue is not losing the gas, but not being able to withdraw it when wanted and needed,” said Saalfrank of Axpo. State energy company Naftogaz said “several attacks” occurred in March and April on above-ground infrastructure, and that repairs have been taken. There are “no issues, we are operating as usual” with regards to injection and withdrawal of gas, said Oleksiy Chernyshov, CEO of Naftogaz.
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