Record deficit: after Russian strikes, Ukraine needs 5 billion cubic meters of expensive European gas
26 March 15:50
Ukraine is preparing for record gas imports from Europe due to Russia’s massive attacks on its energy infrastructure and the rapid depletion of its reserve fuel stocks, Komersant ukrainskyi reports citing Bloomberg.
Dmytro Sakharuk, CEO of D.Trading, DTEK’s trading unit, told the publication that the country may need up to 5 billion cubic meters of gas between April 2025 and April 2026.
“We believe that Ukraine will need up to 5 billion cubic meters in the season from April 2025 to April 2026,”
– said Dmytro Sakharuk, CEO of D.Trading, DTEK’s trading division. He made the statement in an interview on the sidelines of the Financial Times Commodities Global Summit in Lausanne, Switzerland.
According to him, this is significantly more than in previous seasons, when the volume of imports reached a maximum of 1 billion cubic meters.
Ukraine’s gas infrastructure has been severely damaged by Russian shelling, part of Putin’s strategy to create an energy crisis in the winter months.
“In reality, the situation may be even worse than officially reported, making it difficult to accurately estimate the amount of fuel needed for the next heating season,”
– bloomberg writes.
Ukraine’s gas purchases will be made in the face of a shortage on the European market, where prices remain high ahead of the stockpiling season.
Sakharuk’s statement comes amid US reports that Russia and Ukraine have allegedly agreed to a ceasefire in the Black Sea and to develop mechanisms to ban attacks on energy infrastructure.
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The reserves are exhausted
At the same time, Sakharuk noted, Ukraine has already used up the so-called buffer stock – the amount of gas stored in underground storage facilities as a reserve. Some reserves need to be stored in storage to maintain pressure and ensure safe and stable operation of the gas transportation system.
“These reserves must be restored. That is why we are talking about significant volumes,”
– he emphasized.
Previously, Russia’s main strikes were mainly on gas gathering points, where the fuel is cleaned and reintroduced into the transportation system, rather than on the gas fields themselves, Sakharuk explained.
However, the latest air strikes have reduced gas production by the state-owned Naftogaz by almost a third, forcing Ukraine to buy expensive imported gas from the EU. Bloomberg cited sources familiar with the situation as saying this.
Even if the attacks on energy infrastructure cease, restoring domestic production will take time, Sakharuk warned.
“In addition, we do not exclude, and should not exclude, the possibility of new attacks,”
– he summarized.
The situation in the Ukrainian energy sector
In 2024, Russia carried out regular massive attacks on the Ukrainian energy sector. For example, on March 22, 2024, Russia carried out one of the most massive attacks in the entire period of the full-scale war. In particular, Dniproges and other Ukrainian energy facilities were hit. Since then, Russia has been regularly shelling Ukrainian energy infrastructure.
The Russians destroyed the Trypillia and Zmiiv thermal power plants, causing Centrenergo to lose 100% of its generation. Also, 5 of DTEK’s 6 thermal power plants were heavily damaged.
After that, power outages started again in Ukraine, and the government raised the electricity tariff by 60% at once.
In this situation, the Cabinet of Ministers decided to build two new units at the Khmelnytsky N PP and has already received the approval of the relevant parliamentary committee. The Razumkov Center has criticized these plans, but some experts believe that only traitors or scoundrels are against the construction of nuclear power plants today.
Russia launched another massive attack on the Ukrainian energy sector on August 26. This time, they hit distribution and power generation systems, and the Kyiv hydroelectric power plant was also attacked.
Russia carried out the most massive shelling of Ukraine on November 17, 2024, firing 127 cruise, ballistic, and supersonic missiles and 109 attack drones. DTEK reported serious damage to its thermal power plants.
After that, some experts predicted that blackouts could last until spring. And the Center for Countering Disinformation of the National Security and Defense Council of Ukraine voiced the worst-case scenario, which envisaged blackouts of up to 20 hours a day.
However, these predictions turned out to be wrong. Ukraine quickly coped with the consequences of the November shelling and went through the winter without massive power outages.
