Ukrtransgaz will invest UAH998.277 million (about $26.4 million at the current exchange rate) in natural gas storage facilities this year in line with the plan for developing underground gas storage for 2024-2033 that was approved by Ukraine's National Commission for Regulation of Energy and Public Utilities on Tuesday.

"We are moving in the direction of 100% fulfilment of investment programs overall," Ukrainian media reported Ukrtransgaz head Roman Malyutin as saying at the commission meeting.

He said the approved plan calls for reconstruction and construction of capital assets in the gas storage system, development of security systems for critical infrastructure, including cybersecurity, as well as information technology.

Under the approved plan, the company intends to invest UAH472.355 million this year in the operation of gas storage facilities, UAH415.988 million in the development of underground gas storage, UAH66.442 million in modernization and acquisition of transport vehicles, specialized vehicles and machinery, UAH27.413 million in acquisition of diagnostics and testing equipment, and UAH16.079 million in operations and office buildings.

The plan for developing Ukrtransgaz's gas storage facilities for 2024-2033 calls for investing a total of UAH14.534 billion.

The official exchange rate was UAH37.86/$1 on January 16.