Ukraine gas reserves exceed 8 billion cubic meters: Analyst
Ukraine has been forced to ramp up gas withdrawals from storage and increase imports this winter and spring after Russian missile attacks damaged production facilities in the east of the country.
ExPro said that storage facilities were almost 26 percent full, and the volumes were 19.6 percent, or by 1.9 bcm, lower than at the same date year earlier.
The consultancy said gas injection volumes remained higher than last year and between June 1 and 28, 1.25 bcm of gas was pumped into storage facilities.
It noted that since the beginning of this year's gas injection season on April 17, 2.6 bcm of gas had been pumped into storage facilities.
Ukrainian energy minister said last month Ukraine had to import at least 4.6 bcm of gas for the 2025/26 winter heating season.
Hashtags

Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles


Argaam
13 hours ago
- Argaam
OPEC+ moves meeting to Saturday amid output hike forecasts: Report
The OPEC+ members decided to bring forward their meeting to next Saturday instead of Sunday, Asharq Business reported. The meeting will bring together the eight-member alliance, Saudi Arabia, the UAE, Kuwait, Iraq, Kazakhstan, Oman, Algeria, and Russia, to discuss production policy for August, amid expectations of a 411,000 barrels-per-day (bpd) increase. If approved, this would mark the fourth consecutive production hike, bringing the total output hike since the start of the year to approximately 1.78 million bpd, or more than 1.5% of global demand. Following the meeting, OPEC+ members and top industry leaders are expected to gather in Vienna for the 9th International Seminar on July 10, where the 19th edition of OPEC's World Oil Outlook report will be released.


Al Arabiya
2 days ago
- Al Arabiya
Ukraine signs drone production agreement with US company, Zelenskiy says
Ukraine has a signed an agreement with American company Swift Beat to produce hundreds of thousands of drones this year, President Volodymyr Zelenskyy said on Thursday. 'Interceptors for destroying enemy drones and missiles, quadcopters for reconnaissance and fire adjustment, long-range strike drones — there will be much more of all this,' he wrote on social media during a trip to Denmark.


Asharq Al-Awsat
3 days ago
- Asharq Al-Awsat
Russian Central Bank Head Warns of Turbulent Times ahead Despite Slowing Inflation
The Russian economy has adapted to Western sanctions and inflation is now slowing, but turbulent times and major technological shifts lie ahead, central bank governor Elvira Nabiullina said on Wednesday. Despite the sanctions, the Russian economy grew by 4.3% last year but is set to slow sharply in 2025, with many officials and economists saying that the current model has exhausted its growth potential. "We have adapted to some external challenges (but) no, we are facing very turbulent times ahead," said Nabiullina, who is widely credited with steering the Russian economy through the Ukraine military conflict and resulting sanctions. "But I am confident that this also presents new opportunities for development and for increasing labor productivity in conditions of expensive labor. We base our efforts on this," she told a banking conference. She stressed that the high cost of labor - spurred by the military spending that has led to a wage growth spiral in many sectors, as well as by curbs on immigration - would remain for a long time, Reuters reported. Nabiullina said the economy should in future rely entirely on domestic sources of financing as cheap funding from abroad, abundant before the Ukraine conflict, is no longer available. "In my view, structural adaptation to external constraints has been completed. We have demonstrated our ability to adapt to these challenges, but now we are facing structural shifts of an entirely new kind, primarily technological ones," she said. "They may have even more far-reaching consequences than what we experienced over the past two years," Nabiullina said, mentioning artificial intelligence applications in the economy as one such challenge. INFLATION SLOWING The central bank, which has faced heavy criticism over its tight monetary policy, began cutting its key interest rate last month as prices started to come down, helped by the rouble's strength. Nabiullina said inflation is now slowing faster than the central bank expected, and there are signs of easing in the severity of labor market shortages. She said that if economic indicators pointed to a more significant slowdown than anticipated, the central bank would have room for bolder interest rate cuts. She dismissed statements by critics of the bank, who want deeper cuts, that the cooling of the economy was excessive. Nabiullina also rejected statements from many businessman and bankers that the rouble is now overvalued and should weaken to please exporting companies, which saw their revenues shrink as the rouble rallied by over 40% against the dollar this year. "A weak exchange rate is often a sign of vulnerability, a result of chronically high inflation and a lack of confidence in one's own currency. It is hardly something to strive for," she said.