Ukrainian gas import from EU overshadows re-export in 2021

Energy Trade

Ukrainian natural gas imports from the European Union were greater than volumes re-exported from storage in the first two months of 2021, the latest data from network operator GTSOU has indicated.

While much has been made of Ukrainian integration with European gas markets, and the ability of European shippers to store volumes in the country for later extraction and re-delivery, only a small proportion of total stored inventory has been sent back. The data, cited by S&P Global Platts, showed that a total of 433 million cubic metres (mcm) was re-exported to the EU over January-February.

This was below the aggregate import from the EU of 468 mcm. Out of the total re-export, 61.8% was delivered into Hungary, 25.8% into Poland, while the remaining 53 mcm was delivered to Slovakia.

Imports were carried out by five Ukrainian and 13 foreign companies, it said. Previously released data from GTSOU indicated that 10.1 bcm (billion cubic metres) of gas had been stored by foreign companies under the "customs warehouse" regime in 2020, whereby shippers can store foreign-sourced volumes in Ukraine for up to three years exempt from customs duty. 

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