Business

Ukraine offers gas storage capacities to Hungary if Russia cuts down transit

Ukrainian state energy company Ukrtransgaz has offered to provide Hungary with gas storage facilities if Russia decides to stop gas transit through Ukraine.

“Ukrtransgaz wants to offer European gas suppliers the use of free Ukrainian gas storage capacity in order to create the necessary additional gas reserves to guarantee an uninterrupted gas supply to Hungarian consumers, as well as to avoid potential threats to the energy security of the EU countries during the autumn-winter period 2019-2020,” the company said in a statement.

According to the statement, Ukraine can offer a storage capacity of 12 billion cubic metres for European customers, with a daily withdrawal capacity of 260 million cubic metres. Hungary’s annual consumption amounts to 10 billion cubic metres.

Ukrtransgaz has also offered gas storage to other Central and Eastern European companies.

The offer follows the Hungarian government’s announcement that the country will import Russian gas through TurkStream, a Russian pipeline carrying gas through Turkey, Bulgaria and Serbia.

Businesswire

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