Ukrainian gas consumption fell significantly last year, as GDP declined by more than 10 percent, and the output of the domestic industry in particular, which is heavily depends on natural gas, plunged by more than 13 percent. This allowed Ukraine to reduce gas imports from Russia to a minimum. Moreover, Ukraine is going to further reduce consumption and imports this year, while gas production could grow thanks to tax cuts. As a result, Ukraine may be able to avoid purchasing any gas supplies from Russia in 2016.
Ukraine’s gas consumption plunged to 31.0 billion cubic meters (bcm) last year, from …read more
Source: The Jamestown Foundation