Oxford Energy Podcast – Ukraine-EU gas market integration short-term progress, long-term challenges
Over the past 12 months Ukrainian storage has provided a vital safety valve for the European gas market. In this latest OIES Energy Podcast James Henderson discusses the increasing integration of the Ukrainian gas market with Europe with Simon Pirani and Jack Sharples in the light of their latest paper for OIES entitled “Ukraine-EU gas market integration: short-term progress, long-term challenges.” Continuing liberalisation of the Ukrainian gas market and the creation of the customs warehouse for gas storage by international traders has created a foundation for future cooperation, although there have been, and will continue to be, challenges along the way. Furthermore, the question of the transit of Russian gas exports to Europe remains a key issue, with the potential for volumes to decline further once the current contract expires in 2024. Nevertheless, the podcast discusses the potential for the Ukrainian gas market to become important in a European context both as a continuing source of demand for “reverse flow” gas, as a provider of storage and potentially as a source of further interconnection with its neighbouring markets in South, Central and Eastern Europe.