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Gazprom Extends Gas Deadline for Ukraine
11.06.2014 10:35
Gazprom Extends Gas Deadline for Ukraine
Photo Credit: http://www.businessinsider.com

Gazprom has again delayed the switch to the advance payment scheme in its contractual relations with Ukraine’s Naftogaz, this time to June 16.

      Moscow and Kiev are still in negotiations seeking a solution to the protracted gas dispute. The latest round of talks took place on June 9 in Brussels but didn’t lead to any breakthroughs.

      The previous deadline was June 10. Gazprom issued a warning it would switch to advance payments with Ukraine if it fails to repay its mounting debt currently standing at almost 5 billion, according to the Russian gas giant.

      In May, Russia signed an historic deal with China on natural gas supplies with a view to diversify its exports amid similar calls in Europe.

      The exact price has not been disclosed but it’s been reported that the 30-year contract for the supplies of 38 billion cubic meters of gas could bring Russia as much as $400 billion.

      

       




Author: Mikhail Vesely

Tags: Russian gas Gazprom Russian oil and gas companies   

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