Naftogaz meets Ukrainian government's winter gas storage goals ahead of schedule

Naftogaz Group has met the gas storage goals set by the Ukrainian Cabinet of Ministers ahead of schedule.

The government's plan for the coming 2023-24 heating season called for creating a reserve of 14.7 bcm in Ukraine's underground storage facilities. On September 19, Ukraine reached this target, well ahead of the established deadline of November 1. 

Ukraine now has a robust gas reserve of 14.7 bcm, which is thought to be sufficient to confidently cover the coming heating season, regardless of any unforeseen circumstances. This includes capacity for additional electricity generation during peak periods of demand.  

Naftogaz CEO Oleksiy Chernyshov noted that this accomplishment is just one aspect of the company's ongoing efforts. In addition to meeting the established gas storage plan for the coming heating season, Ukraine continues to boost domestic production and pump further gas into underground storage facilities.  

Naftogaz Group is currently achieving the highest drilling rates in the last 15 years. Since the beginning of this year, we have commissioned 54 new wells, resulting in a substantial increase of 3.7 mcm in daily gas production compared compared to September 2023. This has elevated total daily domestic gas production to an impressive 52.7 mcm," commented Chernyshov.

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