"Zero" safety stock extended for gas suppliers

The Cabinet of Ministers of Ukraine adopted a resolution "On Approving the Size of the Reserve Stock of Natural Gas for 2021", developed by the Ministry of Energy, the press service reports.

The decree's adoption will ensure the continuation of the zero amount of the reserve stock of natural gas, which was in force during 2016-2020.

It is noted that this year the gas stocks in the storage facilities are a record over the past 10 years and guarantee a stable passage of the heating season.

Thus, Ukraine has increased the volume of gas in storage facilities to 28.1 billion cubic meters (as of 31.10.2020), which is by 6.3 billion cubic meters exceeds last year's figure on the same date. As of December 23, 2020, UGSFs stores 24.46 billion cubic meters.

“At the same time, a norm for the safety of natural gas supplies is being introduced. According to it, in the event of a crisis on the natural gas market (its level is determined by the National Action Plan, approved by order of the Ministry of November 2, 2015, No. 687), natural gas suppliers must create a safety stock of natural gas in the amount of 10% of the planned monthly delivery volumes for the next month.”

Tags: The Cabinet of Ministers, legislation, Gas market, stocks, gas supplies, natural gas, The Ministry of Energy, supplier, consumers

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