Ukraine has been estimated to possess natural gas reserves of over 670 billions cubic meters (in 2022), and in 2018 was ranked 26th among countries with proved reserves of natural gas. Its total gas reserves have been estimated at 1.870 trillion cubic meters. In 2021, Ukraine produced 19.8 billion cubic meters (bcm or Gm3) of natural gas. To satisfy domestic demand of 27.3 bcm that year, Ukraine relied on gas imports (2.6 bcm) and withdrawal from underground storage (4.9 bcm). Winter demand can reach 150 mcm per day.

The state-owned public joint stock company UkrGasVydobuvannya is the largest Ukrainian gas producer. It is a vertically integrated company with a complete production cycle: from exploration of gas and gas condensate reserves, field development, transportation, gas processing and condensate and oil refining to sales.