KIEV, July 17 – Ukraine and the European Union created a team that will study the country’s vast underground gas storage facilities to see how to effectively use them over the next 20 years.

The project, financed by the EU, will be led by French storage operator Storengy, a subsidiary of ENGIE, and law firm CMS Cameron McKenna Nabarro Olswang will lead the team.

Ukraine has a gas storage capacity near its border with the EU that is capable of holding 31 billion cu m of gas. However, the country has been using only a half of that capacity to ensure steady gas supplies during the high-demand season.