Ukraine to halt coal, oil and gas exports ahead of critical winter

Anticipating a winter season marked by a severe energy crisis, Ukraine will halt all coal, natural gas and oil exports, Ukrainian President Volodymyr Zelensky said in a statement. address to the nation Wednesday.

Ukraine produces natural gas, crude oil and coal, but domestic demand exceeds supply by around 35%, according to the International Energy Agency.

This winter, Zelensky said, will be “the most difficult” in Ukraine’s history since independence from the Soviet Union, and all energy resources will be diverted to domestic consumption.

“In the current situation due to Russian aggression, it will indeed be the most difficult winter in all the years of independence,” Zelensky said. “But! Everything is fine. We have to go through this so that our people feel the normal work of the state.

“All domestic production will be directed to the internal needs of our citizens,” Zelensky told the nation.

Ukraine produces around 14.4 million tonnes of oil equivalent of coal, 16.5 Mtoe of natural gas and 2.3 Mtoe of crude oil, which makes the country self-sufficient for 65% of its energy needs, according to IEA figures.

In addition, more than half of Ukraine’s electricity consumption comes from nuclear energy. Ukraine has 15 nuclear reactors in four separate locations, all of which are under threat of physical or cyber attack from Russia.

Zelensky said Ukraine was developing a strategy on how to increase the country’s electricity exports to increase foreign exchange earnings and compensate for the shutdown of coal, natural gas and oil exports.

“And after our country’s historic joining of Europe’s unified energy network, such exports allow us not only to increase our foreign exchange earnings, but also to directly influence the stabilization of the energy situation in neighboring countries. , which reduces Russian energy consumption,” he said.

By Charles Kennedy for Oilprice.com

More reading on Oilprice.com:

Comments are closed.