A Lithuanian minister outlined a plan that could turn Ukraine’s vast underground storage into a continent-wide safety net. The proposal could reshape EU gas security during accession talks.
Ukraine’s gas storage facilities could play a key role in the EU’s energy balance, becoming a storage site for the European Union’s strategic gas reserve after Ukraine’s accession to the bloc.
This view was expressed by Lithuania’s Minister of Energy Žygimantas Vaičiūnas during his visit to Kyiv, where the gas sector and future steps for joint cooperation were discussed.
“The Lithuanian liquefied natural gas terminal has been used to transfer gas to Ukraine via Poland. Since last year, four shipments have been directed to the Ukrainian system. The next element is the potential of Ukraine’s underground gas storages as a place to store the EU’s strategic gas reserve.”
– Žygimantas Vaičiūnas
A Look at the Benefits for Ukraine and the EU
According to him, such a prospect could be beneficial for both Ukraine and the EU, strengthening cooperation between the countries in the energy sector.
“We see a clear interest from Ukraine in developing underground gas storages – the largest in Europe – for the continent’s supply security. In the long term, despite decarbonization, gas will still be part of our energy balance in Europe as a temporary or reserve fuel. That is why it is important for the EU to have internal storages that it will gain with Ukraine’s accession”
– Žygimantas Vaičiūnas
According to the minister, the Lithuanian side sees significant interest from Ukraine in developing underground storages as part of the continent’s energy security.
According to the Lithuanian government’s press service, Lithuania, during its presidency of the EU Council, is ready to support a decision to fully abandon imports of Russian oil as part of strengthening sanctions.
This development underscores the deepening of energy cooperation between Lithuania and Ukraine and could contribute to the stability of gas and energy supplies to the EU.