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Kiev Promises To Repay the Gas Debt
4.12.2014 15:30
Kiev Promises To Repay the Gas Debt

Kiev promises to repay the gas debt to Moscow before the end of 2014. This was stated by the Minister of Energy and Coal Industry of Ukraine Vladimir Demchishin, as RIA Novosti reported. “Naftogaz” has to pay $ 1.65 billion to “Gazprom” by the end of the year. On November 24 it was announced that Ukraine was going to buy one cubic meters of gas from Russia in December. In addition, the Ukrainian party plans to increase the reverse supplies of the fuel from Hungary.

      On November, 4 “Naftogaz of Ukraine” transferred $ 1.45 billion to “Gazprom” as the first payment on the debt for the gas supplied earlier. On October 31 Ukraine, Russia and the European Commission approved a winter gas plan in Brussels, including the resumption of supplies of Russian fuel to Kiev.

      By the end of 2014 Ukraine has to repay the debt in the amount of $ 3.1 billion and purchase additional gas volumes from “Gazprom” on a prepaid basis. According to the agreements, from 1 November 2014 to 31 March 2015 Moscow gives Kiev a discount of $ 100 per one thousand cubic meters of gas applied to the price determined by the formula in the contract between “Gazprom” and “Naftogaz” concluded in 2009.


Author: Anna Dorozhkina

Tags: Russian gas     

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