The shortage of energy carriers, caused by the aggressive policy of the Kremlin against Ukraine and the West, remains the most urgent challenge to the European community. The logical consequence of the energy crisis has been the widespread strengthening of the role of state leaders and governments in regulating its consequences for consumers. This includes the European gas storage regulation and European plans for joint gas procurement in light of reduced Russian gas flows. At the same time, Ukraine's Underground Gas Storage (UGS) system is the largest in Europe. This vast storage capacity allows Ukraine to serve as a strategic hub for storage and delivery of natural gas its European partners. It provides a reliable and flexible source of gas during periods of high demand and can help to mitigate potential supply disruptions. Following the renewed interest of European countries in ensuring the security and stability of their gas supply, through maximum filling percentages and joint procurement, Ukrainian gas storage facilities might play a critical role as part of the European energy system.

The European gas storage regulation requires Member States to maintain a 90% minimum filling level of gas storage capacity by 1 November 2023, the start of the heating season. Consequently, the EU hopes to ensure that adequate supplies of natural gas are available in the event of a supply disruption, such as a disruption in Russian gas supplies. Additionally, the EU energy platform for joint gas procurement has been established in April 2022. The main goal of this project is to optimize pricing on the market and overcome the negative consequences of dependence on Russian gas for consumers. This platform also works to support the REPowerEU plan to reduce fossil fuel consumption and strengthen the role of renewable energy sources in the European economy. The essence is to aggregate European gas demand, which will provide a better position when negotiating contracts. The EU energy platform aims to achieve better commercial conditions and make competitive price wars between EU states impossible.

Energy Club is the leading business community of energy companies in Ukraine, that creates opportunities for communication between stakeholders of the energy market.