Forbes: Ukraine Relying Less On Russian Natural Gas, Positioning To Become Bigger European Supplier

On the natural gas front, Ukraine is moving farther away from Russia despite a decline in domestic production last year.

One of the reasons: Europe. Believe it or not, gas hungry Europe was a major exporter to Ukraine last year. Ukraine imports of E.U. natural gas rose 138% to five billion cubic meters (bcm) while Russian natural gas imports dropped by 44% to 14.5 bcm. Russia is still three times larger, but the share of Russian gas in Ukraine’s domestic market fell by more than a third, accounting for 34% of the total recently. In the first half of March, European imports accounted for 81% of Ukraine’s total.

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