Published by Global Banking & Finance Review®
Posted on February 5, 2025
2 min readLast updated: January 26, 2026
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Ukraine plans to buy and store US LNG, enhancing Europe's energy security as Russian gas transit ends.
KYIV (Reuters) - Ukraine and other European nations have the potential to buy and store liquefied natural gas (LNG) from the United States in Ukraine and this could strengthen Europe's energy security as gas transits from Russia end, its foreign minister said on Wednesday.
Ukraine, which was invaded by Moscow three years ago, was once a major pipeline transit route for Russian gas until the beginning of this year, when the transit deal between the two countries expired.
It also has large underground gas storages, particularly in the west of the country.
"We see a huge potential, especially after the termination of the transit of Russian gas through the territory of Ukraine, in the possibility of purchasing LNG gas from the United States of America," Foreign Minister Andrii Sybiha said at a joint press conference with his British counterpart David Lammy.
In response to a Reuters question after the event, a ministry spokesperson clarified this meant that Ukraine could buy U.S. LNG and store it, as well as storing LNG belonging to other European countries.
"You know that Ukraine has extremely powerful underground gas storage facilities, and here, too, we have common ground for mutually beneficial cooperation, while strengthening Europe's energy security," Sybiha said.
Sybiha also invited U.S. businesses to participate in reconstruction and help Ukraine rebuild after the damage and devastation caused by nearly three years of war.
The minister was answering a question about U.S. President Donald Trump's recently expressed interest in Ukraine supplying the U.S. with its deposits of critical minerals.
Kyiv proposed in its Victory Plan presented last year to sign an agreement with the U.S., EU and other allies that would allow for joint investments and use of Ukraine's natural resources, which it says are worth trillions of dollars.
"It is also an element of guaranteeing the presence of big business in Ukraine, big interests, the interests of our closest allies - the United States of America - in the development of such fields and their protection," Sybiha said.
(Reporting by Max Hunder, writing by Olena Harmash, Editing by Bernadette Baum and Angus MacSwan)
The article discusses Ukraine's potential to buy and store LNG from the US to strengthen Europe's energy security.
Ukraine aims to enhance energy security after the end of Russian gas transit through its territory.
Ukraine invites US businesses to participate in its reconstruction and invest in its natural resources.
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