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Ukraine To Halt Coal, Oil, Gas Exports Ahead Of Critical Winter

Anticipating a winter season defined by severe energy crisis, Ukraine will halt all exports of coal, natural gas and oil, Ukrainian President Volodymyr Zelensky said in an address to the nation on Wednesday.

Ukraine produces natural gas, crude oil and coal but domestic demand exceeds supply by approximately 35%, according to the International Energy Agency

This winter, Zelensky said, will be “the most difficult” in Ukraine’s history since independence from the Soviet Union, and all energy resources will be diverted for domestic consumption. 

“In the current situation due to Russia’s aggression, this will indeed be the most difficult winter of all the years of independence,” Zelenksy said. “But! Everything is alright. We must go through it so that our people feel the normal work of the state.”

“All domestic production will be directed to the internal needs of our citizens,” Zelensky told the nation.

Ukraine produces approximately 14.4 million tonnes of oil equivalent of coal, 16.5 Mtoe of natural gas and 2.3 Mtoe of crude oil, rendering the country self-sufficient for 65% of its energy needs, according to IEA figures. 

Additionally, over half of Ukraine’s electricity consumption comes from nuclear energy. Ukraine has 15 nuclear power reactors at four separate locations, all of which are under threat of physical or cyber attack from Russia.

Zelensky said Ukraine was strategizing on how to increase the country’s electricity exports to boost foreign exchange earnings and make up for halting coal, natural gas and oil exports. 

“And after the historical accession of our country to the unified energy network of Europe, such exports not only allow us to increase our foreign exchange earnings, but also directly influence the stabilization of the energy situation in neighboring countries, which reduce Russian energy consumption,” he said.

By Charles Kennedy for Oilprice.com

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