Ukraine will need to import gas before end-2022, Naftogaz looking at options

MOSCOW. May 27 (Interfax) - Ukraine is not currently importing natural gas while it is managing to increase stocks in storage facilities; imports will probably be needed before the year is out, but their relatively modest volume makes purchasing flexible, Yuriy Vitrenko, CEO of Ukraine's Naftogaz, told reporters in Davos.

"It looks like Ukraine will probably need imports. We aren't importing any at all at the moment, yet we are managing to pump gas into storage. But imports will be needed before the end of the year and we are working on finding better terms," he said.

Vitrenko said he was conducting pragmatic talks in Davos at the World Economic Forum and elsewhere on gas and petroleum product imports.

"We are discussing various import options: both LNG [including American], and gas from countries we have not imported from before," he said.

Vitrenko did not disclose any details, but said the company today had the opportunity to look for better import options.

"The volumes of gas that have to be imported are relatively small compared to previous years, so we have some flexibility, we can afford, at least for now, to look for better import options and a lower price, and take certain risks," Vitrenko said.

"This is because we know we have enough capacity to import from Europe, and if we don't import in June then we still have July, August and September," he said.

Asked about the redemption of $335 million of Eurobonds in July this year, Vitrenko said the company currently had no liquidity problems, and a loan from the European Bank for Reconstruction and Development would be used to purchase gas for winter.