Ukraine offers Europe to create an international gas fund on the basis of its own underground storage facilities – Galushchenko

Photo Ukrinform

Ukraine offers European partners to create a joint international gas fund based on its own gas storage facilities (NGS).

This was reported in a press release of the Ministry of Energy with reference to the speech of Minister German Galushchenko during the online discussion Talks Geopolitics, organized by European Policy Center (EPC), UA writes.

The document described Ukraine’s proposal, which states that a gas reserve should be formed, which will be stored in Ukrainian gas storage facilities.

“And the participants of the fund will have access to the gas supply in crisis situations. The creation of the fund is envisaged within the framework of the concept of the Regional Energy Security Partnership (RESP) proposed by Ukraine in the medium term” – the statement reads.

The concept also provides for the provision of additional gas flows to the Baumgarten area by the Ukrainian route this winter, as well as the development in the long run of commercially attractive conditions for gas delivery from additional sources to the Baumgarten area, in particular to fill backup storage facilities.

According to Galushchenko, the joint efforts of Ukraine and Europe will help “also create a flexible and consumer-friendly market that will not be subject to manipulation”.

To remind, large-scale presidential program on energy modernization will start in Ukraine next year.

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