Ukraine’s state-owned energy company, Naftogaz, has signed its first agreement to import natural gas from Azerbaijan, marking a pivotal shift in the country’s energy strategy. The deal, announced on July 28, comes as gas storage reserves have plummeted to their lowest level in over 11 years, driven by the ongoing Russian attacks on Ukraine’s energy grid. These attacks have severely disrupted the nation’s supply chains, leading to an accelerated depletion of its gas reserves.
The decision to source gas from Azerbaijan reflects Ukraine’s efforts to diversify its energy suppliers and reduce dependency on Russian imports. This move is part of broader measures to ensure energy security amid the ongoing conflict. Analysts note that the agreement could bolster Ukraine’s energy resilience while also providing Azerbaijan with an opportunity to expand its market reach in the region.
As the situation in Ukraine continues to evolve, the import of Azerbaijani gas is seen as a temporary measure to bridge the gap until more long-term solutions are in place. The government has been working on various initiatives to enhance energy storage capacity and promote renewable energy sources to reduce vulnerability to external disruptions.