As reserves are at a record low, Ukraine could need to import up to 6.3 billion cubic meters of gas next winter

The former head of Ukraine's gas transit operator stated on Sunday that the country may have to import as much as 6.3 billion cubic meters (bcm) for winter 2025/26 due to the fact that its reserves are at a record-low level because of war-related damages to certain facilities.

Serhiy Mikogon, a Telegram Messenger user, said that after Russian missiles damaged production facilities to the east of Ukraine in winter and spring, Ukraine was forced to increase gas imports and withdraw more from storage.

Gas Infrastructure Europe (GIE) data showed that storage levels were "the lowest ever", at 0.7 Bcm, 2.22% full capacity as of April 16th. This was the end of winter and spring.

Makogon stated that the country will need to collect 12.8 bcm in reserves, including 4.6 Bcm in buffer gas to maintain sufficient pressure within storage facilities.

Makogon stated that, "according to my calculations," given the volume domestic production of gas, it would be necessary to import at least 5.5 billion cubic meters of gas.

He pointed out that Ukraine's Naftogaz, the state-owned oil and gas company, had set the volume of imports required at a lower amount of 4.6 billion cubic meters.

Makogon stated that this amount could cost the country as much as $3 billion even though existing funds are only enough to buy 0.4 bcm.

He said that Naftogaz, along with the government, would have to come up with significant funding to close the gap.

He added that the country needed to import enough gas to last four months at full capacity in order to reach this target.

Dmytro lyppa, then the head of transit operator in Ukraine, said that Ukraine would need to import 4 bcm (billion cubic meters) of gas by the end of March. Half of this volume could be LNG. (Reporting and editing by Clelia oziel; reporting by Pavel Polityuk)

(source: Reuters)