Ukraine is no more money for the right amount of gas

Technical default and the gas crisis - both are now equally threatens Ukraine. Ukrainian authorities for the first time acknowledged that the country is not short of money not to mention the payment of debts, and even on such basic and vital things as the preparation for the heating season. Save the situation can only be the new external financing.

Ukraine does not use the full power of Reverse for gas injection into underground storage facilities due to lack of funds, directly admitted the head of “Naftogaz Ukraine” Andrew Kobolev in an interview with Ukrainian news agency “LigaBusinessInform” released Monday.

“The only reason that is now Reverse power is not used in full, - the lack of funds”

“The only reason (which is now at Reverse power is not used in full - approx. VIEW) - lack of funds. If we have the money in August, we will be able to reach the normal level of gas reserves in underground storage facilities” - said Cobol.
Naftogaz for the first time acknowledged that the country has no money for the purchase of gas for injection into underground storage facilities in winter. And then it does not matter what kind of fuel is in question - that is straight out of Russia, or that the reverse is through Poland, Hungary or Slovakia. However, in the EU there is no necessary volumes of gas for Ukraine. Because Europe itself, realizing that this winter gas crisis looming threat more seriously, began vigorously to pump fuel into their own underground storage: Gazprom reported a record volume of gas supplies to European countries since the beginning of July.

According Koboleva, Kiev intends to find funds by one billion dollars of state guarantees.

“For this money we can buy about 4 billion cubic meters. Then, in parallel with domestic production and the resources that are at Naftogaz, we have to reach a level close to the target. As for the Russian gas, it is very difficult to predict how the Russians will behave in the winter, whether they will agree to a new agreement. It is a big question mark, to which we are preparing, trying to find the money and pump gas in underground storage facilities “- said Cobol.

Volume of gas in underground storage facilities of Ukraine on July 17 was 12.49 billion cubic meters. On the eve of the Minister of Energy and Coal Industry of Ukraine Volodymyr Demchishin he said that the current rate of gas injection into underground storage facilities account for about 30 million cubic meters per day, which will give the opportunity to fill the storage to the beginning of the heating season, no more than 15 billion cubic meters. At this rate for three full months that are left before the start of the heating season (mid-October), Naftogaz will be able to upload a maximum of 2.7 billion cubic meters. That is the winter in Ukrainian underground storage facilities will actually accumulated no more than 15 billion cubic meters of gas. This is extremely low and dangerous levels. Russia indicated that for the winter Ukraine should accumulate in their UGS not less than 19 billion cubic meters. In Europe, we talked about 20 billion cubic meters.

Interestingly, the Ukrainians themselves now recognize that this is not enough. “If there are such temperature conditions as last year, in principle, to 15 billion cubic meters will be right next to us, but we

21 July 2015

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