Russians Energy Minster says ` Domestic Gas Prices in `Europe ' Could Rise by 50 Percent if it Cut's Supplies from Russia '

#AceFinanceNews – EUROPE – April 04 – (RT) – “Moving away from pipeline transportation of natural gas, construction of terminals and deliveries of liquefied natural gas will lead to an increase in gas prices in Europe from the current $380 per 1,000 cubic metres to at least $550,” Novak said in an interview to the Russia 24 TV Channel.

“And the question arises: are the economies of European countries ready to supply and consume gas at such a price?” the Minister asked.

The US has insisted that Europe needs to urgently cut its dependence on Russian gas, with the US Secretary of State John Kerry saying Moscow should no’t use energy exports as a political weapon.

“It really boils down to this: no nation should use energy to stymie a people’s aspirations,” Kerry said in Brussels on Thursday, the same day Russia’s Gazprom increased the price to Ukraine another $100 per 1,000 cubic metres.

On Wednesday the US and EU reaffirmed their plan to move away from Russian gas, stressing that developments in Ukraine “have brought energy security concerns to the fore” .

Meanwhile, Russian energy companies have started to feel the pulse in markets outside Europe, mostly focusing on Asia.

Gazprom talked to Kuwait and Egypt about increasing LNG supplies and hopes to sign a long-term supply deal with China next month.

Also, the president of Russia’s oil major Rosneft has toured Japan, South Korea, Vietnam and India.

RT – INS – IT

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` Naftogaz Ukrainy is Prepared to buy `Natural Gas ‘ In Reverse Mode ‘ from `European Countries’ and Delivered to the Ukraine ‘

#AceFinanceNews – KIEV- April 01 – Ukrainian national joint stock company Naftogaz Ukrainy is prepared to buy natural gas that will be delivered to the country in the reverse mode from European countries to Ukraine, Chairman of Naftogaz Board Andrey Kobolev told a news conference on Tuesday.

“We are prepared to buy gas from any company that will offer the lowest price,” he said. Kobolev noted that the maximum price at which Naftogaz was prepared to buy fuel was the imported Russian gas price.

The company is negotiating with Germany to become “a direct buyer” of fuel without a scheme of mediators, the Naftogaz board chairman said.

Meanwhile, he added that several gas traders had contracts with Germany, so, Naftogaz still hoped to start fuel purchases from that country on the border with Ukraine.

Russian News Sources

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` European Parliament Member believes it is wrong for `European Union ‘ to Grant of Financial Aid ‘ to the ` Ukraine ‘

#AceFinanceNews – MOSCOW – March 25 – Pino Arlacchi, member of the European Parliament, believes it is wrong of the European Union to grant financial aid to Ukraine and suggests confiscating funds of Ukrainian oligarchs invested in European banks.

The funds Ukrainian oligarchs invested in European banks, exceeding 50 billion euro, should be confiscated and channelled for relief to Ukraine, he said in an interview with Itar-Tass.

He believes the new composition of the parliament of the European Union will endorse such a resolution regarding Ukraine.

He noted that such measures had been approved for North Africa, when the funds of dictators of Egypt, Tunisia and Libya were confiscated. So, there exist juridically substantiated mechanisms for that, Arlacchi said.

He noted, however, that there was a need for a request for this from the Ukrainian government, which is so far under oligarchs’ control.

Arlacchi recalled that the European Union had prepared an economic package for relief to Ukraine in the amount of 11 billion euro.

Criticizing this stand he noted that two billion euro out of the sum was a grant that was actually a gift to the corrupt government that could not guarantee the return of the funds.

Arlacchi noted it was irresponsible to give such a loan to the Ukrainian government.

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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.

Russian News and Media Sources

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