Russian attack on gas storage facilities in Ukraine affected prices in the European Union

After the Russian attack on Ukrainian gas storage facilities, an increase in gas prices was recorded in Europe.

On Thursday, April 11, after a missile attack on two Ukrainian underground gas storage facilities, Bloomberg writes:

“Although the facilities continue to operate, according to Naftogaz head Alexei Chernyshev, this is the fourth Russian attack on Ukraine's gas storage facilities. Such attacks highlight the potential risk of gas storage in the country if European reserves are overfilled this summer.”

The publication notes that Ukraine has more gas storage capacity than any other country in Europe, and it is actively attracting traders to store reserves in its storage facilities. Ukraine is now inviting foreign traders to reserve up to 10 billion cubic meters of gas in its storage facilities this year. At the same time, experts point out:

“Yes, European gas futures rose by 9.5% – this is the highest price level in the last three weeks. The volume of potentially reserved raw materials accounts for about a third of the country’s total capacity and is at the same level as last year.”

As Bloomberg notes, this is not the first such attack by Russians. On March 24, they damaged Naftogaz facilities in western Ukraine.

On the night of April 11, Russian cruise missiles of various classes and UAVs attacked two critical objects energy infrastructure in the Lviv region: a gas distribution infrastructure facility in the Stryisky district and an electrical substation in Chervonogradsky. Naftogaz added that early in the morning of April 11, the Russians attacked two Ukrainian underground gas storage facilities. The message says: “The storage facilities continue to operate. Specialists are now engaged in eliminating the consequences of the shelling. Fortunately, the employees were not injured.”

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