Kobolev says Ukraine to continue buying gas from Europe

Kobolev says Ukraine to continue buying gas from Europe

Lower prices for natural gas on the European market and its sufficient stocks in Ukraine's underground storages enable Ukraine to manage without Russian gas purchases.

Naftogaz Chairman and CEO Andriy Kobolev told reporters on Friday following the Victor Pinchuk Foundation's ‘Ukrainian Breakfast’ 2016 in Davos.

"Now we're buying all gas on the European market. There is no need for us to change the purchase tactics now. Especially, taking into accounting the better prices in Europe," he told reporters.

According to Kobolev, as of Friday morning, gas purchases in Europe totaled about 40 million cubic meters per day and the amount of gas in the underground storages totaled about 90 million cubic meters.

The Naftogaz head also admitted that theoretically it could happen that Ukraine would be forced to buy Russian gas if there were severe cold.

“The end of February always used to be the difficult period for the Ukrainian gas transport system," he said.

But at the same time he noted the Ukrainian gas transport system is currently operating in its usual mode.


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