Monday, May 12, 2014

Gazprom to cut supplies to Ukraine from June if no prepayment

If Kiev does not pay its gas bills by June 2, exports to Ukraine will be halted the next day, Gazprom CEO Aleksey Miller said. Russian PM Dmitry Medvedev meanwhile urged demanding advanced payment from Kiev as early as Tuesday.

Miller told Medvedev on Monday that Gazprom will issue a preliminary June bill to Ukraine’s Naftogaz on May 13. 

According to Miller, Kiev already owes the company more than $3.5 billion, which compares to Gazprom’s annual gas supply to Poland. 

“In case Ukraine does not pay for the June supplies, Gazprom will notify the Ukrainian side, before 10am on June 3, and the volume of gas will be supplied to Ukraine in accordance with the advanced payment,” Miller said. 

He added that if Kiev pays for zero cubic meters of gas, it will receive none.

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