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. Last Updated: 07/27/2016

Gas Storage in Ukraine Set to Resume

Gazprom agreed to store as much as 2.5 billion cubic meters of gas in Ukraine this winter because of a lack of space in Russian storage facilities, Vedomosti reported Friday.

Gazprom stopped storing gas in Ukraine two years ago after a dispute over payment for 7.8 bcm of gas held in Ukrainian underground storage containers, the newspaper said.

A warm winter this year decreased demand for gas, leaving Russian storage facilities too full to meet Gazprom's storage needs and forcing the company to return to Ukraine, Vedomosti said. Gazprom's gas storage capacity in Russia is about 65 bcm, the newspaper said.

The company's contract for Ukrainian storage runs from October to March 2008, said Andrei Knutov, spokesman for RosUkrEnergo, a Russian-Ukrainian gas venture half-owned by Gazprom.

Gazprom has assigned RosUkrEnergo to handle the storage in Ukraine, the newspaper reported.