Ukraine’s gigantic gas reserves that were built during the Soviet Union to ensure the Kremlin’s gas monopoly on Europe are now serving the opposite goal: helping Europe get off the Kremlin’s gas needle, according to Financial Times.

Last year, European firms turned to Ukraine, home to the largest gas reserves in Europe, to store reserves. Analysts say this allowed utilities and traders to only tap modest volumes from EU-based storage, helping keep gas prices low and easier to refill inventories, IPN reports, with reference to Ukrainian press.

Natasha Fielding, head of European gas pricing at Argus Media, said that Ukraine is playing a key role for central and eastern Europe’s security of gas supply this winter. Calling on gas stored in Ukraine “helps Europe to keep its domestic stockpiles high, reducing the risk of sites nearly emptying over any sustained cold in late winter”, she stated.

Ukraine’s Naftogaz reports European companies accumulated around 2.5 billion cubic meters of natural gas ahead of winter, a record high since Russia’s invasion, according to FT.

Companies began withdrawing Ukraine gas in early November at 10.7 million cubic meters daily, accelerating to 26 million cubic meters per day amid December’s cold snap, said Argus Media.

According to Argus, Poland received over half the gas withdrawn from Ukraine’s facilities, with the rest used by Moldova, Slovakia, and Hungary.

Nikoline Bromander, senior analyst at Rystad Energy, said withdrawals from Ukrainian storage were “definitely helping keep European storage around the 90 per cent region”.

Ukraine has more gas storage capacity than any country in the EU. Ukraine emerged as an alternative for holding gas destined for neighboring states as storage sites in the EU reached near maximum capacity as early as mid-October.

Barring major disruptions, Rystad forecasts 80 billion cubic meters could remain in EU storage by March-end, or 70% of capacity, according to Financial Times.