Gazprom: Ukraine needs to boost gas inventories to 19 bcm by winter
KYIV. July 2 (Interfax) - Ukrainian national oil and gas company Naftogaz Ukrainy must boost its reserves of gas in underground storage to at least 19 billion cubic meters by the fall-winter heating season in order to ensure the reliability of gas transit, Russian Gazprom said.
Ukrainian Energy and Coal Industry Minister Eduard Stavitsky said earlier that gas stocks need only amount to 14-16 bcm.
In a statement issued after a meeting between Gazprom CEO Alexei Miller and Ukrainian Deputy Prime Minister Yuriy Boyko, Gazprom said: "It was noted that in order for the Ukrainian company [Naftogaz Ukrainy] to meet its commitments for uninterrupted transit of Russian gas to Europe, Ukraine's underground gas storage facilities must contain over 19 bcm of gas by the beginning of the fall-winter season."
Miller and Boyko also said that the $1 billion advance payment for gas transit that Gazprom agreed to make on June 26 would provide Naftogaz Ukrainy with an additional source of financing for pumping more gas into storage.
