` Gazprom cannot ` Supply Gas’ to `Ukraine ‘ for ` FREE’ so ‘ NO PAYMENT ‘ from `Naftogaz ‘ NO Gas ‘

#AceFinanceNews says Russia will limit or suspend gas supplies to Ukraine in case Ukraine’s energy company Naftogaz Ukrainy makes no advance payment for April gas imports till the end of March.

Under the gas contract between Russia’s Gazprom and Naftogaz of January 19, 2009, the seller may partially or completely suspend the fulfilment of its liabilities in case the buyer does not fulfil its obligations.

In line with the contract, Gazprom is to issue a bill to Naftogaz by March 16 and the latter is to pay it by the end of March. If the bill is not paid, gas supplies may be limited.

On Friday, Gazprom CEO Alexei Miller told journalists that his company had received no payments from Naftogaz Ukrainy for February’s Russian gas supplies.

On February 7, it was the deadline for payments for February’s gas deliveries to Ukraine,” he said. “Gazprom has received no debt payments. With a discount in the first quarter, Ukraine’s overdue debt for gas has significantly increased, reaching 1.860 billion dollars.”

“This actually means that Ukraine has stopped paying for Russian gas. This contradicts completely provisions of the contract and international trade practice,” Miller said. “We have always fulfilled and we will fulfil our contractual obligations.”


#gazprom, #naftogaz-ukrainy, #russia, #russian, #ukraine

` Ukraine to pay $440 million for the ` Russian Natural Gas ‘ consumed in February ‘

#AceFinanceNews says that Ukraine is expected to pay about $ 440 million for the Russian natural gas it consumed in February, the interim acting Minister of Energy and Coalmining, Yuri Prodan told reporters Sunday.

“It’ll come to around $ 440 million for February,” he said, adding that about $ 10.6 mln was remitted to Russia’s main producer and exporter of natural gas, OAO Gazprom, last year.

Ukraine’s outstanding debt to Gazprom for last year totals $ 1.5 billion.

The country’s national oil and gas monopoly Naftogaz Ukrainy issued a statement three days ago where it said it had paid Gazprom for the gas imported in January.


#gazprom, #naftogaz-ukrainy, #russian