Naftogaz buys 150 mcm of gas at UAH 28,000 per cubic meter for Feb

MOSCOW. Feb 4 (Interfax) - Naftogaz Group has urgently purchased about 150 million cubic meters of gas in the EU at UAH 28,000 per cubic meter (without VAT) for February, Ukrainian media said citing former head of the Transmission System Operator of Ukraine Sergei Makagon.

"Naftogaz, which pledged to go through the winter without imports, has urgently purchased about 150 mcm of gas in the EU for February. This is good news, as the risk to stably passing through the winter significantly increases without imports. The bad news is that the price Naftogaz has paid to foreign traders is around UAH 28,000 per cubic meter without VAT," Makagon said on social media.

In his words, gas has become almost twice more expensive than it was in summer.

Former Ukrainian Energy Minister Olga Buslavets said on a social network lately that Ukraine would have to import 2 bcm to 3 bcm of gas in 2025 in order to compensate for the deficit. Ukrainian underground gas storage facilities contained 8.1 bcm of gas at the beginning of February, i.e. were 27% full, she said.

Makagon said on January 29 that Ukrainian underground gas storage facilities were gradually approaching a 10% filling level, when the design capacity for gas extraction would fall to 60 million cubic meters per day and urgent gas imports would be necessary.

He estimated average daily gas consumption in Ukraine at 100 mcm and said that 52 mcm were produced on a daily basis while the remaining 58 mcm had to come either from underground storage facilities or be imported. Makagon added that daily gas consumption might reach 140 mcm to 150 mcm in case of frosty weather, while underground storage facilities would be unable to provide 90 mcm to 100 mcm of gas per day and imports would be required.

Naftogaz Group replied to his statement on the same day that it had enough gas to stably pass through the heating season and fuel was also been imported. It did not provide import details.