Ukraine is approaching self-sufficiency in gas in 2024, and also plans to resume electricity exports already in the spring, said the Minister of Energy of Ukraine Herman Galushchenko.
Noting that since 2015, Ukraine does not buy gas from Russia, but instead exports it from European countries, Galushchenko noted a significant increase in its own gas production. "We are very close to achieving a zero gas balance this year," he said.
The minister pointed to a sharp decrease in gas consumption in Ukraine in recent years, noting that the refusal to export it will depend on the dynamics of industrial and economic development. "There is potential to increase production, and we are already observing its implementation," he added.
According to Galushchenko, in 2021 gas consumption in Ukraine will be approximately 27 billion cubic meters, making the country one of the largest consumers of fuel in Europe. However, in 2022, due to the reduction of industrial production due to security risks during a full-scale war with Russia, Ukraine's economy shrank by a third. Galushchenko said that in 2023 gas consumption will drop to approximately 19 billion cubic meters.
Recently, the Naftogaz company expressed expectations for a 7% increase in natural gas production in Ukraine in 2023, and a significant recovery of energy exports is forecast this spring, as consumption has decreased. It is important to note that the Cabinet of Ministers banned the export of gas from Ukraine in June 2022, but with the possibility of extending the ban next year. Oleksiy Chernyshov, head of Naftogaz Ukraine, expressed confidence that the company will be able to buy all the resources offered by private gas production companies.
