1. English Edition

Gazprom: Ukraine Naftogaz Fully Paid For December Gas

Gazprom: Ukraine Naftogaz Fully Paid For December Gas
dj
Πεμ, 7 Ιανουαρίου 2010 - 20:02
Russian energy giant OAO Gazprom (GAZP.RS) confirmed Thursday that it had received payment from Ukraine for gas delivered in December, calming fears of a repeat of last January's gas cuts to Europe.
Russian energy giant OAO Gazprom (GAZP.RS) confirmed Thursday that it had received payment from Ukraine for gas delivered in December, calming fears of a repeat of last January's gas cuts to Europe .

Ukraine 's state gas company Naftogaz said Wednesday that it had paid the bill of around $900 million, the highest for 2009. Despite constant warnings from Russia that Ukraine would struggle to meet its bills last year amid a punishing recession, the final payment means that all bills were met on time and in full.

Almost a quarter of Europe 's gas comes from Russia , 80% percent of which is transported via Ukraine . A dispute last January between Russia and Ukraine that lasted almost three weeks led to gas cuts to Europe , leaving homes and businesses without gas.

Naftogaz's finances were stretched last year as renegotiated contracts left it paying higher prices for Russian gas, while still selling to consumers at subsidized rates. Payments have been further complicated by disagreements between Ukrainian President Viktor Yushchenko and Prime Minister Yulia Tymoshenko ahead of presidential elections on Jan. 17.

Earlier Wednesday, Yushchenko said in a letter published on his Web site that Naftogaz was struggling to pay. In the letter to central bank chief Volodymyr Stelmakh, Yushchenko asked him to resolve the problem by buying domestic bonds.

The International Monetary Fund on Dec. 30 agreed to relax the terms of its $16.4 billion bailout program to allow the central bank to spend an additional $2 billion of its reserves to meet external payments, including for gas. The Fund suspended disbursements under the program after a hike in social spending was signed into law by Yushchenko at the end of October.

Διαβάστε ακόμα