Use of gas storage facilities in Ukraine is too risky, says GIE president. Western traders have been filling them for months

Underground gas storage facilities across the EU are almost full, prompting traders in recent months to look for additional storage capacity. As in previous years, Ukraine has offered such capacity, with significantly more storage space than it needs itself. Yesterday, Gas Infrastructure Europe (GIE) President Torben Brabo said that using Ukrainian gas storage facilities is very risky. However, the country's storage facilities have been filling with gas in recent months for subsequent re-export back to the West, as confirmed by both traders and the operator of Ukraine's gas transmission system.

"We know they have huge storage facilities, but we have assessed the situation with the (European) Commission and many commercial suppliers, and the risk is now too great," Torben Brabo said yesterday at an annual conference in Paris organised by Francegaz, according to Montel.

"Who would buy gas on the Western European market and transport it to Ukrainian storage facilities? You don't know whether you can get it out," Brabo added, saying that even the largest insurance companies will not insure the gas.