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Shmyhal: Ukraine aims to produce 15 billion cubic meters of gas in 2024

by Kateryna Hodunova March 1, 2024 7:56 PM 2 min read
Prime Minister Denys Shmyhal delivers a speech to the Verkhovna Rada on Oct. 6, 2023. (Andrii Nesterenko/Global Images Ukraine via Getty Images)
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Ukraine's state-owned oil and gas giant Naftogaz aims to produce 15 billion cubic meters of natural gas in 2024, Prime Minister Denys Shmyhal said at the meeting of the Cabinet of Ministers on March 1.

Shmyhal said that the increase in domestic natural gas production is one of the key objectives of Ukraine’s energy strategy in 2024.

Ukraine got through the winter using only domestic gas production for the first time in history in 2023-2024, Naftogaz’s CEO Oleksiy Chernyshov said on March 1.

According to Chernyshov, Ukraine had 16 billion cubic meters of gas in reserve in October, which helped to pass the winter without importing.

"On the first day of spring, it is important to say that the energy system remains stable. There are no restrictions applied to consumers," Shmyhal said.

According to Shmyhal, Naftogaz launched 86 new wells in 2023.

Ukraine currently has more than 8.5 billion cubic meters in its underground storage facilities, according to Shmyhal. More than 1 million tons of coal has also been stored, he added.

"We must complete this heating season with confidence, and we will begin preparation for the next winter immediately, "Shmyhal said.

Naftogaz earlier reported that its production branch, Ukrgasvydobuvannya, had increased the daily production rate of domestic natural gas by 11% in 2023. This figure has been the biggest since April 2019.

Ukrgasvydobuvannya also hit a record level of daily gas production for the first time over the past five years. The company reached 38.54 million cubic meters of commercial gas produced per day, Naftogaz announced in February.

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