Ukraine's UGSs and Poland's LNG terminals can become an alternative to Russian transit.

Ukraine and Poland are working together to create an East European gas hub that will meet the region's gas needs from alternative sources independent of Russia.

Deputy Minister of Energy of Ukraine Mykola Kolisnyk reported this during an online discussion of the Energy Club dedicated to the diversification of gas supply in Poland.

'The end of transit initiates the beginning of competition for new routes and resources, including LNG, which is actively increasing its share in the overall balance of the EU. The integration of gas markets based on existing infrastructure and increased available cross-border capacity is pushing the development of trade and providing the opportunity to replace Russian gas with an independent molecule,' said Mykola Kolisnyk.

Kolisnyk informed that Ukraine has officially approached Polish partners with a proposal to sign documents that will facilitate the development of inter-state 'entry-exit' points on the gas transmission system between Ukraine and Poland, as well as increase capacity: 'This will make the eastern part of Europe even more liquid than it is now,' added Mykola Kolisnyk.

'We expect the introduction of long-term and medium-term contract signing procedures into a business mechanism similar to that existing in the USA. This will help Ukraine and Poland to maintain the necessary amount of gas for all of Eastern Europe. In this particular case, deregulated and physically developed capacity between our countries will help redirect that portion of natural gas that was previously supplied from Russia,' he noted.