Ukrainian government has given its consent to pump enough gas into its storage facilities to keep up the pressure in order to ensure transportation of Russian gas to Europe in winter.

Russian Energy Minister Alexander Novak was cited by Reuters as saying that Ukraine had agreed to fill the gas storage following discussions between the government of the two countries and the European Commission.

Around 40% of the gas exports for Russia pass through Ukraine.

Ukraine needs to maintain storage capacity of 14 to 19 billion cubic metres (bcm) to ensure smooth transit of Russian gas to Europe.

The European country’s Ukrtransgaz maintains 10.27 bcm of gas in its storage tanks as of June 1, reports the news agency.

The countries have also mutually agreed on an outline protocol for the gas trade.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Novak said: "They agreed on some positions of the protocol, including on pumping no less than 19 bcm into the storages before the forthcoming winter."

Ministers from the Russian capital Moscow and Ukrainian capital Kiev have plans to meet later in the month in order to discuss and resolve the key outstanding disagreements.

Talks will also be carried out to decide on the duration of the protocol, the formula applied to discount prices for Ukraine and fees charged by Ukraine for the gas transit over its territory.