` Russia’s Gazprom Demands $1.66 Billion Prepayment from Ukraine ‘

#AceFinanceNews – MOSCOW – May 13 – Russia’s Gazprom demanded a $1.66 billion pre-payment from Ukraine for June gas deliveries on Tuesday, saying the neighbouring country had only half its requirements in storage to ensure a trouble-free winter.

Gazprom

Citing a preliminary bill, Moscow pressed ahead with its demand that Ukraine pay for June deliveries early next month, heightening a dispute over price that is pushing the two countries closer to another gas war that could cut supplies.

Previous disputes over gas have left Europe, which gets around a third of its gas needs from Russia, with limited supplies at the height of winter, spurring it to look for alternative producers. But so far it has been unable to break its dependence on Moscow.

State-controlled Gazprom said the bill was based on Ukraine taking up a contractual amount of 114 million cubic metres per day, or 3.4 billion cubic metres for the month in total.

“Taking into account non-working days, Naftogaz should pay this bill by June 2 and, starting from June 3, the company will be getting gas… only at the volumes paid for,” spokesman Sergei Kupriyanov said in a statement.

This means that Ukraine needs to pay $1.658 billion for June’s gas deliveries based on a price of $485 per 1,000 cubic meters, he added.

Naftogaz confirmed it had received the bill but declined to comment further.

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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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` Ukrainian Deputy PM `Yuri Boiko ‘ believes detention of Naftogaz Chairman of the Board was with Rude Violation ‘

#AceFinanceNews – KIEV, March 23 – Former Ukrainian Deputy Prime Minister Yuri Boiko believes that Chairman of Ukrainian national joint stock company Naftogaz Ukrainy board Yevgeny Bakulin was detained with rude violation of the country’s legislation. Boiko has made a statement live on Public TV on Sunday.

“The detention was made when Ukraine signed political part of the Agreement on Association with the European Union under which the country committed to observe strictly the political association deal…Meanwhile, yesterday armed police came to Naftogaz Ukrainy head office, detained the chief executive with violation of all these laws, his lawyer even called 102 that unidentified people took him away,” the former deputy prime minister noted.

Court ruled to release Bakulin on a bail of 1.5 billion hryvnas (147.1 million dollars according to current hryvna exchange rate per U.S. dollar of the National Bank of Ukraine).

Russian Finance News

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1. March 21 – 21.15 GMT – Extract – #AceFinanceNews – KIEV, March 21.- Ukraine’s Ministry of Interior Affairs has on Friday detained the Chairman of the Board of national oil and gas company Naftogaz Yevhen Bakulin within the framework of investigation of major corruption schemes in the gas industry.

Parliament-appointed Minister of Interior Affairs Arsen Avakov said this in a statement.http://wp.me/pzTwj-2N0

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` Ukraine's Ministry of Interior Affairs detained `Chairman of the Board ' of `Naftogaz ' under Investigation of Corruption '

#AceFinanceNews – KIEV, March 21.- Ukraine’s Ministry of Interior Affairs has on Friday detained the Chairman of the Board of national oil and gas company Naftogaz Yevhen Bakulin within the framework of investigation of major corruption schemes in the gas industry.

Parliament-appointed Minister of Interior Affairs Arsen Avakov said this in a statement.

He added that only within 3 episodes of actions committed by the criminal group and investigated by the ministry’s Investigative Department, the sum of losses inflicted to the state makes about $4 billion.

“Meanwhile, this is not the complete list of suspicious schemes and transactions that attracted the attention of our investigators. I am afraid the uncompromised investigation carried out today would lead only to immense sums of losses inflicted to many famous personalia that have to do with it.

In particular, to those from the past and present political elite,” Avakov noted.

He warned politicians from interfering with the investigation. “I warn that I will be sharply, and even in public, react on every attempt of putting pressure on the investigation,” Avakov stressed.

Investigative actions were being carried out in the headquarters of Ukraine’s national oil and gas company Naftogaz, Kiev police reported on Friday.

Eyewitnesses said “in the office on Bohdan Khmelnytsky Street and near the building, there are armed people in masks”. One of the company’s employees said that the “office work has been paralyzed, searches and confiscation of documents are under-way”.

Russian Finance and Media Sources

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