War risks and lower differentials between summer and winter prices are keeping Europe’s natural gas traders away from the underused underground gas storage sites in Ukraine. Last year, many traders were willing to risk and ignore the potential damage to Ukrainian storage sites as natural gas prices in Europe were much higher and the discount of prices in the summer months to the winter-month prices was wide enough to justify storing the fuel in a war zone. The commodity can be bought anywhere and sent to Ukraine via reverse flows in pipelines…
