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Brief Interview with Minister of Energy German Galushchenko for Interfax-Ukraine

Text – Nina Yavorska

How do you assess Ukraine’s need for gas imports?

We need it, and in fact, the issue is not just about this season. The point is that we need to fill our storage facilities for the next heating season. Therefore, gas imports are absolutely necessaryfor us. As for the volumes, we will see where we stand at the end of this season, taking into account, among other things, the consequences of russian attacks on gas infrastructure. We will see, but I think we will definitely need to import at least 1 billion cubic meters by the end of the year. Possibly even more.

How would you comment on the gas price at which Naftogaz is currently importing it? Yesterday, there was information that Naftogaz purchased 150 million cubic meters for February at a price of UAH 28,000 per 1,000 cubic meters.

That is the market price today. And all these discussions about how it should have been bought earlier are no longer relevant. In the 1990s, it was extremely cheap. So should we have bought it back then?

How financially secured is Naftogaz for imports?

Besides its own funds, Naftogaz has open credit lines. For example, the EBRD credit line for EUR 200 million. And they actually have even more. In addition, there is a possibility of receiving grant funds.

We are also in discussions with partners about the possibility of receiving gas as a commodity grant. That would also be a viable solution.

Have there been any proposals from the EU regarding the transit of Russian gas through Ukraine?

No, there haven’t been any. Slovakia is receiving Azerbaijani gas – currently 400 million cubic meters per month – but I believe Azerbaijan could