Restrictions on export of natural gas of Ukrainian origin does not affect the operation of the UGSs

The decision of the Cabinet of Ministers of Ukraine to ban the export of natural gas of Ukrainian origin does not affect the operation of the underground gas storage system.

The relevant restrictions were introduced by the Cabinet of Ministers Resolution of 10 June, 2022 № 666.

 At the same time, Ukrtransgaz JSC - Storage System Operator of Ukraine continues to fulfill all its obligations to domestic and foreign customers, in particular to store gas in the "Customs Warehouse" regime for up to 1095 days without paying VAT and customs duties. There is also an option to re-export gas that was imported for storage in Ukrainian UGS starting from April 2022.

It should be noted that despite the imposition of martial law non-residents still have a demand for natural gas storage services in Ukraine. This is still due to commercially attractive tariffs and geographical location of Ukrainian UGS - 80% of capacity is located near the western border of our country.