Russia Gets $15 Mln Gas Payment from Ukraine

Source: Reuters 3/5/2015, Location: Asia

Russian gas exporter Gazprom said it had received a $15 million prepayment from Ukrainian state energy firm Naftogaz, averting a possible cut in supply, at least for a few days.

The money is enough to cover 45.6 million cubic metres of gas, or about five days of supply at current rates of delivery, Gazprom said by e-mail.

Gazprom had warned that supply to Kiev could be cut off as soon as Friday if no payment was made.

Any possible cuts in gas supplies to Ukraine could have a knock-on effect for the European Union, where Russia meets one third of the fuel demand. Around 40 percent of Russian gas to the EU goes via Ukraine.

The two former Soviet republics have been engaged in a spat over Russian gas pricing, debts and other key terms. Both have lodged their appeals with the Stockholm arbitration tribunal, which is not expected to issue a ruling before 2016.

Russia puts Ukraine's debt for gas supplies at $2.4 billion.

The gas spat has been at the heart of the wider dispute between Russia and Ukraine.

In early 2014, pro-Moscow president Viktor Yanukovich fled from Kiev following fierce street protests after he reneged on a promise to forge tighter ties with Europe, choosing closer cooperation with Russia instead and securing much cheaper gas supplies.

After his abrupt departure, Russia annexed Ukraine's Crimea peninsula in March, while a pro-Moscow insurgency erupted in eastern Ukraine, where some 6,000 people have since been killed.

Russian President Vladimir Putin said on Wednesday he did not want a repeat of pay disputes that have seen Russia cut off supply to Ukraine three times in the last decade, leaving many European states without gas in the middle of winter.

Once Gazprom's largest export market, Ukraine has reduced its reliance on direct gas imports from Russia in recent years.

Its imports from Russia in January and February fell by half from a year earlier, according to gas transit monopoly Ukrtransgaz.

Russia and Ukraine have agreed to discuss a new gas deal before a current temporary pact expires at the end of March.


Canada >>  1/14/2025 - Zenith Energy Ltd. ("Zenith" or the "Company") (LSE: ZEN; OSE: ZENA; PINK MARKET: ZENAF), the listed international energy production and development c...
Canada >>  1/14/2025 - Spartan Delta Corp. (“Spartan” or the “Company”) (TSX:SDE) is pleased to announce that, as a result of excess demand, it has agreed with the syndicate...

Canada >>  1/14/2025 - FLEXIBLE SOLUTIONS INTERNATIONAL, INC. (NYSE-AMERICAN: FSI), is the developer and manufacturer of biodegradable polymers for oil extraction, detergent...
Ireland >>  1/14/2025 - Greencore Group plc, ("Greencore" or the "Company") announces that on 13 January 2025 it purchased, for cancellation, the following number of ordinary...

Israel >>  1/14/2025 - Nexxen International Ltd. (AIM/NASDAQ: NEXN) ("Nexxen" or the "Company"), a global, flexible advertising technology platform with deep expertise in da...
Norway >>  1/14/2025 - Please see below information about transactions made under the fourth tranche of the 2024 share buy-back programme for Equinor ASA (OSE:EQNR, NYSE:EQN...

Related Categories: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 

Related Articles: Accounting, Statistics  Acquisitions and Divestitures  Asset Portfolio Management  Economics/Financial Analysis  General  Industrial Development  Insurance  Investment  Mergers and Acquisitions  Risk Management 


Gulf Oil and Gas
Copyright © 2023 ICT All rights reserved. - Terms of Service - Privacy Policy.