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Ukraine wants to have 19 bcm in storage by the end of the summer but it doesn't have the money to buy that gas. The probable outcome is it will have around 14 bcm. They could probably get through most winters with that amount but if it is cold they will struggle and look for gas from western Europe, we forecast the seasonal ramp in prices could go as high as 53 pence/therm (peak winter weather prices).

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