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Foreign companies store nearly 1.4 billion cubic meters in Ukrainian underground gas storage facilities

02 August 2019

Companies store gas in Ukraine without customs clearance in "customs warehouse" mode

JSC "Ukrtransgaz" stores nearly 1.4 billion cubic meters of non-residents’ natural gas in Ukrainian underground gas storage facilities (UGS). This was reported by the company press service.

"The volume of (non-residents’ gas – ed.) increased by 71% compared to mid-June, and reached almost 1.4 billion cubic meters. The number of contracts concluded with international companies also increased from 24 to 31," told the press service.

According to Andrii Koboliev, the chairman of the board of NJSC Naftogaz of Ukraine, the Ukrainian gas storage facilities store more than 4 billion cubic meters of gas owned by non-Naftogaz Group companies.

We will remind that "customs warehouse" service was introduced by JSC "Ukrtransgaz" in 2017. Companies Trafigura Sarl (Switzerland), Trafigura Ukraine LLC and MND (Czech Republic) were the first to place gas in Ukraine.

Foreign companies can use Ukrainian UGS to store their gas in a "warehouse" mode, which allows traders to store gas in Ukraine for more than 1000 days without customs clearance – without paying taxes and customs duties, subject to the further transportation of natural gas from the territory of Ukraine.

JSC "Ukrtransgaz" is the operator of gas pipelines and underground gas storage facilities in Ukraine. 
The company is a 100% subsidiary of NJSC Naftogaz of Ukraine.

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