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Boiko, Miller discuss preparations for winter, prospects for gas cooperation

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Aug. 31, 2012, 3:17 p.m. | Business — by Interfax-Ukraine

CEO of Russian gas major Gazprom Alexei Miller
© www.gazprom.ru

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Ukrainian Energy and Coal Industry Minister Yuriy Boiko and the CEO of Russian gas major Gazprom Alexei Miller discussed the progress made by Ukraine's national oil and gas company Naftogaz Ukrainy in pumping gas into underground storage facilities for the 2012/2013 fall and winter period on Friday in Moscow, Gazprom said in a press release.

"It was specially noted that a sufficient amount of gas in Ukrainian underground storage facilities is a key condition for the Ukrainian side to fulfill its gas transit obligations. Prospects for cooperation in the gas sphere were also considered at the meeting," the press release said.

Boiko and Miller also met on Aug. 22 to discuss preparations for the upcoming fall and winter period.

This June, Gazprom extended a $2-billion advance payment to Naftogaz Ukrainy for gas transit in order to provide the Ukrainian company with floating funds to inject gas into storage.

As of Aug. 20, Ukraine had amassed 16.4 billion cubic meters (bcm) of gas in its underground storage facilities, including 15.7 bcm in Ukrtransgaz's facilities and 0.7 bcm in Chornomornaftogaz's facilities.

Ukraine possesses 13 underground storage facilities with an active capacity surpassing 31 bcm of gas. Ukrtransgaz operates 12 of those facilities, and Chornomornaftogaz (Crimea, wholly owned by Naftogaz Ukrainy) operates one.

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