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    Ukraine's Naftogaz and Ukrnafta gas output up 7% so far in 2024

Summary

Ukraine's state-run Naftogaz and Ukrnafta oil and gas companies have raised their natural gas output by 7% so far this year, Naftogaz Chief Executive Oleksiy Chernyshov said on Thursday.

by: Reuters

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Ukraine's Naftogaz and Ukrnafta gas output up 7% so far in 2024

 - Ukraine's state-run Naftogaz and Ukrnafta oil and gas companies have raised their natural gas output by 7% so far this year, Naftogaz Chief Executive Oleksiy Chernyshov said on Thursday.

Naftogaz said previously that it planned to increase gas output to 15 billion cubic metres (bcm) this year, from 14 bcm in 2023.

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Naftogaz said that since the beginning of 2024, the two companies had produced 9.8 bcm of gas.

Ukrnafta is the largest oil company in Ukraine, and its 50% plus one share owned by Naftogaz.

"We are not abandoning our goal of switching to the use of exclusively domestically produced gas for the needs of Ukrainians," Chernyshov said in a statement.

Sufficient gas reserves are crucial during the winter cold season for Ukraine, whose energy system is regularly attacked by Russian missiles and drones and has lost half of its generating capacity during the war.

Last year, overall Ukrainian gas production increased to 18.7 bcm from 18.5 bcm in 2022, while domestic consumption fell to about 19 bcm.

 

(Reporting by Pavel Polityuk, Editing by Timothy Heritage)