#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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` Several Hundred ` Bulgarian's ` massed in `Sofia ' chanting ` EU did not Free Bulgaria from Turkish Domination – it was Russia '

#AceFinanceNews – SOFIA, March 24 – Several hundred Bulgarian citizens massed before the presidential administration building in the capital Sofia on Monday to protest against EU sanctions imposed on Russia.

Demonstrators gathered to wield posters reading “The EU did not free Bulgaria from Turkish domination, but Russia did” and “Crimea’s Bulgarians want Sofia to recognize the referendum”.

They arrived, attracting television broadcasters and news photographers, as the building assembled the country’s national security council to discuss events in Ukraine and possible consequences for Bulgaria.

Before the meeting, locals voiced confidence the meeting would not reach a consolidated agreement. Bulgaria’s President Rosen Plevneliev and his ruling party Citizens for European Development of Bulgaria have attacked Russia’s position and supported European sanctions.

But Prime Minister Plamen Oresharski stood against the punishment. “It should be mentioned that we would not support tight economic sanctions without analysing their consequences.

Our analysts say our country will be among those who will suffer the most from these consequences”, the premier said, adding that some “compensation mechanisms” needed discussion.

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