The Minister of Energy and Coal Industry of Ukraine, Igor Nasalik, said that the country is ready to make its underground gas storage facilities available to foreign companies, including Turkish ones, for its further transportation to the European Union, Sputnik reported.

The minister,  who did this an statement during a meeting with Turkish Ambassador to Ukraine, Yonet Can Tezel, was therefore opened to a change in the law: under Ukrainian legislation, Ukrainian-registered affiliates of foreign gas suppliers have the right to store gas on Ukrainian territory, but cannot export it as gas export is forbidden, the Ukrainian Association of gas traders, ICIS reported.

Ukraine has some 32bcm gas storage capacity near its western border with Europe and has the potential to become an important resource for European traders. But until the country allows gas exports, that will remain dormant and limit the liberalisation of the Ukrainian gas market.

In addition, it was also reported by Sputnik that EU Climate Action and Energy Commissioner, Miguel Arias Cañete, confirmed that the European Union is interested in Ukraine remaining a gas transit corridor.

In 2015, Ukraine increased transit of natural gas to Europe and Moldova by 7.

9% (by 4.885bcm) compared to 2014, when it reached 67.082bcm. Gas transit through the country to Europe in 2015 was 64.161bcm, and 2.921bcm to Moldova, Interfax informed.