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New rules for the certification of gas storage operators will be introduced in Ukraine. The Ukrainian Parliament approved in the first reading the draft law No. 8158 on the certification of gas storage operators. The document stipulates that the National Commission will certify gas storage operators for Regulation in the Energy and Utilities Sectors. It also introduces the concept of a "gas storage filling schedule" and "gas storage target filling level". The purpose of the changes is to implement the updated EU Regulations, which came into force in July 2022, into Ukrainian legislation. The draft law's authors believe that it will establish additional guarantees for the security of the natural gas supply. It will also bring the legal regulation of the gas storage operator's activities and the processes of natural gas injection into gas storage closer to the legal norms in force in the EU and the Energy Community.
Naftogaz gas production infrastructure has also suffered extensive damage. Since the beginning of the Russian invasion, more than 350 Naftogaz Group oil and gas infrastructure facilities have suffered. In addition, more than 450 km of gas pipelines have experienced damage. Naftogaz gas production infrastructure has also suffered extensive damage. Since the beginning of the Russian invasion, more than 350 Naftogaz Group oil and gas infrastructure facilities have suffered. In addition, more than 450 km of gas pipelines have experienced damage.
Naftogaz says Russian attacks have damaged 350 gas facilities. Oleksiy Chernyshov, CEO of Ukraine's oil and gas monopoly Naftogaz, said that recent Russian attacks had damaged 350 natural gas facilities with the loss of gas production capacity of around $700 million.
The EU opens the door to the underground gas storage market for Ukraine. Two decisions have been adopted in Ukraine, allowing Ukrtransgaz to enter the market of underground gas storage in the European Union. The Ukrainian Parliament has adopted draft law No. 8158, which forms the basis for the certification of Ukrtransgaz as a gas storage operator compliant with EU regulations. Also, the National Energy Regulatory Commission has approved the procedure for the certification. Successful certification will give Ukraine the official right to store on its territory not only commercial gas reserves of certain European companies but also strategic reserves that have already been accumulated at the state level. This will make it possible to maximize the Ukrainian storage network's capacity, increase underground gas storage revenues, and strengthen Ukraine's energy security.
9.1.3 Transport sector news
● Trains
Ukrainian Railways (UZ) is heading towards default, according to rating agency S&P Global Ratings, Ukraine Business News reported on December 13. The state-run railway company asked its Eurobond owners to postpone all payments, due in 2024 and 2026, for 24 months. As such, S&P has lowered UZ’s rating, signalling its imminent default. UZ will likely restructure its debts over the coming weeks. It has Eurobonds due in July 2024 for $594.9mn and in July 2026 for $300mn, making up around 80% of the company’s total debt. Once the restructuring is confirmed, S&P will downgrade UZ’s rating to selective default but will revise its rating once the restructuring takes place.
54 UKRAINE Country Report January 2023 www.intellinews.com