Vitol, the world’s largest independent energy trader, is test storing 2,000 cubic meters of natural gas in a Ukrainian ‘customs warehouse,’ designed for long term storage by Ukrtransgaz. Rotterdam-based Vitol Gas and Power BV piped the gas in from Slovakia last month, enkorr energy news site reports.
Since June, gas can be stored duty free for three years in Ukraine’s underground reservoirs. With 14 billion cubic meters of free storage capacity, Ukraine allows companies to store gas in the low price season, then pipe it to Europe in the winter, the high price season. Ukrtransgaz has signed contracts with eight companies interested in storing gas in the ‘customs warehouse’ mode.
