#AceFinanceNews SIMFEROPOL April 14 QHA Crimea to shorten…

#AceFinanceNews – SIMFEROPOL – April 14 – (QHA) – Crimea to shorten the period of time during which the Russian Ruble and Ukrainian Hryvnia will simultaneously circulate in the region due to the declining value of the Hryvnia, Crimean vice premier Rustam Temirgaliyev announced.

“Amid declining value of the Hryvnia and the possibility of default in Ukraine we have to reconsider the terms of operating two-currency system in the region. We discuss the possibility of a withdrawal of Hryvnia in a short period of time”- he said.

“We discuss the possibility of a significant withdrawal of Hryvnia in case of unrestricted exchange of the Ruble and Hryvnia along with deposit compensation from Ukrainian banks in Crimea Deposit Insurance Agency (DIA).

DIA already opening its offices in Crimea”- Temirgaliev added.

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` China is looking at `Alternative Energy Projects in the Crimea ‘ meanwhile Gas Supplies are being Finalised ‘

#AceFinanceNews – Moscow – April 14 – China takes interest in alternative energy projects in Crimea, Russian Vice-Premier Arkady Dvorkovich.

“We also agreed (during talks in China) that we will look into new projects, including in our new regions. Chinese colleagues who deal with alternative energy, take interest in these projects in the Republic of Crimea,” Dvorkovich said at a session chaired by Prime Minister Dmitry Medvedev.

Gazprom’s contract on supplies of Russian gas to China would be finalized by the upcoming visit to China by Russian President Vladimir Putin, due in May, he said at a session chaired by Prime Minister Dmitry Medvedev on Monday.

Also Russia may increase electricity, coal supplies to China fourfold.
“Talks on gas are nearing completion, and there is a general intent to finish that work before Russian president’s visit,” he said.

Tass – Russian Media and Energy News Sources.

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#AceFinanceNews MOSCOW April 14 Eight billion cubic meters…

#AceFinanceNews – MOSCOW – April 14 – Eight billion cubic meters of gas in Ukraine’s underground storage facilities is enough for three months’ uninterrupted transit of Russian natural gas to Europe, parliament-appointed Minister for Energy and Coal Yuriy Prodan told Bulgarian national radio on Monday.

“Within a certain period of time, up to three months, Ukraine will be able to ensure gas transit to European countries. Within this period of time we must consider the issue of gas pumping and settle it before June,” the minister said.

However, according to Russian President Vladimir Putin, Ukraine needs about 11 billion cubic meters in underground storage to guarantee uninterrupted transit of Russian gas to Europe, he told European leaders in a letter last Friday. Under the current price for Russian gas of $485.5 per 1,000 cubic meters, up to $5 billion will be needed.

Currently, 7.2 billion cubic meters is in underground storage, head of Ukraine’s national oil and gas company Naftogaz Andriy Kobolev has reported. According to Russian supplier Gazprom, 6.5 billion cubic meters lay underground on April 9.

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