#AceFinanceNews – MOSCOW – April 14 – Eight billion cubic meters of gas in Ukraine’s underground storage facilities is enough for three months’ uninterrupted transit of Russian natural gas to Europe, parliament-appointed Minister for Energy and Coal Yuriy Prodan told Bulgarian national radio on Monday.
“Within a certain period of time, up to three months, Ukraine will be able to ensure gas transit to European countries. Within this period of time we must consider the issue of gas pumping and settle it before June,” the minister said.
However, according to Russian President Vladimir Putin, Ukraine needs about 11 billion cubic meters in underground storage to guarantee uninterrupted transit of Russian gas to Europe, he told European leaders in a letter last Friday. Under the current price for Russian gas of $485.5 per 1,000 cubic meters, up to $5 billion will be needed.
Currently, 7.2 billion cubic meters is in underground storage, head of Ukraine’s national oil and gas company Naftogaz Andriy Kobolev has reported. According to Russian supplier Gazprom, 6.5 billion cubic meters lay underground on April 9.