It can store around 33 billion cubic metres, equating to a fifth of annual pre-war Russian supply to the bloc. Read more at straitstimes.com.
KYIV - Ukraine’s vast underground gas storage sites will be vital in helping the European Union withstand a future energy crisis, but the bloc must find ways to incentivise companies to use them.
“We need to take every possible precaution to make sure that we are as well prepared as we could be for the next winter,” said Mr Sefcovic. Winter contracts trading at a premium to near-term prices are also increasing the attractiveness of storing as much gas as possible.Mr Sefcovic did not give a timeline on when such “special risk insurance” might be available to companies that wish to use the facilities. He did not provide details of how it might work, or who would underwrite possible guarantees.
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