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Gas prices in Europe rise against backdrop of russian attacks on Ukrainian underground gas storage facilities

On April 11, russia attacked two Ukrainian underground gas storage facilities (UGS), which led to an increase in gas prices in Europe.

This is announced by Bloomberg, Ukrainian News Agency reports.

These attacks became the fourth attack on Ukrainian gas storage facilities, which have not yet affected their operation.

"The incidents highlight the potential risk to the country's gas storage if European stocks are overwhelmed this summer. Ukraine has more gas storage capacity than any other country on the continent west of russia, and is actively luring traders to store there its stocks," the publication says.

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It is noted that against the background of russian attacks on Ukrainian UGS, European gas futures increased by 9.5% and reached the highest price level in the last three weeks.

As Ukrainian News Agency earlier reported, russia attacked two Ukrainian underground gas storage facilities on Thursday, April 11.

The Naftogaz of Ukraine national joint-stock company aims to increase the volume of gas supplied by European traders to Ukrainian UGS by 60% to 4 billion cubic meters in 2024 compared to 2023.

Ukraine offers European companies to store up to 10 billion cubic meters of gas in UGS.

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