Naftogaz to accumulate 14 bcm of gas in UGS for next heating season

Naftogaz Ukrainy plans to accumulate 14 billion cubic meters (bcm) of gas in underground gas storage facilities (UGS) by the start of the 2016/2017 heating season, company head Andriy Kobolev has told reporters in Kyiv.

"We need to create gas reserves. We must increase UGS gas stocks to at least 14 billion cubic meters... It is necessary to add about 4 billion cubic meters," he said.

Kobolev added Naftogaz, when importing gas, would pay attention to the profitability of a particular price offer. At the same time, negotiations with Gazprom are also continuing, but gas will be purchased from Russian companies only under the terms of a competitive price offer.