EU to support efficiency of underground gas storage facilities in Ukraine

Doing business in Ukraine: EU to support efficiency of underground gas storage facilities in Ukraine

#Ukraine and the #EU launch a new #joint #project that aims to study #Ukrainian #underground #gas #storage #facilities. The EU will help Ukraine make best #infrastructure choices to #facilitate #energy #transition unfolding.

Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.Visit our website if you are interested in the #Ukrainian_economy or #doing_business in Ukraine.

To ever have a chance to be successful, Ukraine’s approach to underground gas storage needs to coherently cope with sustainability challenges. On 12 July 2017, Ukraine and the European Union launched a new joint project which will support the comprehensive study of underground gas storage facilities in Ukraine. The project is funded by the EU and aims at developing sustainable economic approach to using Ukrainian gas storage infrastructure.

The launched project provides an opportunity for experienced European partners to share their expertise. It is designed to engage the best international experts to develop an optimal strategy for Ukrainian gas storage infrastructure. In particular, CMS Cameron McKenna Nabarro Olswang will analyze the legal provisions and its compliance with the EU regulations. As regards the technical aspects, Storengy, an ENGIE subsidiary, which is Europe’s leading provider of natural gas storage services, will be in charge of the technical input by carrying out a technical assessment of each gas storage facility and providing a technical summary of the study.

The study will specifically focus on forecasting demand for gas storage services for the next 20 years and exploring Ukraine’s chances in the underground gas storage market. The research findings will be used to develop a new strategy for efficient use of underground gas storage facilities in Ukraine.

Moreover, the project is of special importance in the light of implementation of the Law of Ukraine “On the Natural Gas Market”. Therefore, the project shall contribute to implementing the ongoing natural gas market reform in Ukraine.

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