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Ukraine will deplete its gas reserves by April, need new purchases in the spring — expert

At the same time, according to Alexander Kharchenko, Naftogaz will have the burden of "significant debts," which it has already incurred

MOSCOW, November 6. /TASS/. Ukraine will deplete its underground gas storage facilities by April during the current heating season, requiring additional purchases again in the spring, according to a forecast by Alexander Kharchenko, director of the Ukrainian Center for Energy Research.

"As for next year, my forecast is that we will enter April with "dry" storage facilities again, or in a state close to it. And we will again need to buy [gas]," he said in an interview with Telegraf publication.

At the same time, according to Kharchenko, Naftogaz will have the burden of "significant debts," which it has already incurred. This year, Naftogaz received a huge amount of loans from both Ukrainian and international banks for gas purchases.

"How will they service it? <...> The lack of funds will be one of the most pressing problems in preparation for the next autumn-winter period," the expert said.

In addition to that funds are needed to restore compressor shops, gas purification units, and gas production capacities, the expert added.

According to Bloomberg, following strikes on energy infrastructure facilities in the Poltava and Kharkov regions on October 3, Ukraine lost more than 60% of its gas production capacity and, as a result, will be forced to spend almost 2 bln euros on fuel imports.

The gas shortage arose after the transit of Russian fuel to Europe through Ukraine's gas transmission system was completely halted on January 1 due to Kiev's refusal to renew its agreement with Gazprom. As a result, a fuel shortage developed in the country, delaying the start of the current heating season by a month, until November 1. Kiev now has to purchase gas on the European market at high prices.