Ukraine's electricity shortage may exceed 4 GW - IMF
Illustrative photo: The IMF predicts an electricity shortage of more than 4 GW in Ukraine (Getty Images)
The electricity deficit in Ukraine may exceed 4 GW, requiring imports of natural gas, according to an updated IMF memorandum.
“Staff estimates a winter energy deficit of 3– 4 GW, consistent with estimates of other stakeholders, with downside risks prevailing due to missile attacks and seasonal factors,” the document says.
To increase generation, the Ukrainian authorities have an “ambitious plan” that includes providing the country with up to 1 GW of additional generating capacity (including gas turbines) by the end of 2024, increasing electricity imports from the EU by more than 2 GW, and repairing damaged equipment.
As for gas heating, domestic gas production by Naftogaz and other players is expected to cover most of the gas demand from households and companies, while the remaining gas needs will be met by imports (up to 3 bcm).
In September, Naftogaz began purchasing gas from the EU with a €200 million EBRD loan. According to RBC-Ukraine's sources, the purchase may amount to up to 600 million cubic meters.
Prime Minister Denys Shmyhal said this week that Ukraine had prepared 12.2 billion cubic meters of gas and 3.1 million tons of coal for the winter.
