Business news from Ukraine

Business news from Ukraine

Ukraine plans to import up to 4.6 bln cubic meters of gas by winter

27 March , 2025  

Ukraine needs to import 4.5-4.6 billion cubic meters of natural gas by November 1 of this year before the start of the next heating season.

This was announced by Dmytro Abramovich, a member of the Board and Commercial Director of Naftogaz Group, at a meeting of the Verkhovna Rada Committee on Energy, Housing and Utilities on Wednesday.

“Naftogaz is already contracting for April, May and the following months, we are not stopping, realizing that by November 1 of this year, if we want to reach the balance sheet indicators comparable to last year, we need 4.5-4.6 billion cubic meters of gas,” he said.

According to the commercial director, Naftogaz has already imported almost 800 million cubic meters of gas in February-March this year.

“This is a technological import, because it cannot be said to be for final consumption – another resource is commercially consumed – but this resource was necessary for balancing the system and daily withdrawal,” Abramovich explained.

According to the company, Ukrainian consumers consumed 14.86 billion cubic meters during the heating period in November-March 2024-25, while the balance plan of the Ministry of Energy of Ukraine was 14.73 billion cubic meters. At the same time, the level of consumption was 680 million cubic meters or 5% higher than in the same period in 2023-24.

According to the commercial director, during the last heating season, Ukraine also lost 700 million cubic meters of its own gas production as a result of Russian shelling.

“We lost almost 700 million cubic meters of gas during the heating season for obvious reasons. Until February 1, we were doing better than planned according to the country’s balance sheet, but the shelling happened and we lost a very large part of production,” he said.

According to Abramovich, Ukraine is also planning to reach 500 million cubic meters less gas reserves in underground gas storage facilities (UGS) during the current heating season than planned in the balance sheet.

At the same time, gas consumption in 2025 in the country will be comparable to last year and will amount to 20.6-20.8 billion cubic meters.

“We see this in the trend, in the current consumption dynamics, so the main task is to work on energy saving and on the restoration of production and continue imports,” summarized the commercial director.

As reported with reference to Prime Minister Denys Shmyhal, the European Bank for Reconstruction and Development (EBRD) on Wednesday approved a loan for Naftogaz of Ukraine for the purchase of natural gas for the next two heating seasons in the amount of up to EUR270 million. Additionally, about EUR140 million in grants from the Norwegian government will be channelled through the EBRD.

According to Shmyhal, this resource will help Ukraine accumulate gas reserves in underground storage facilities for the next heating season.

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