Tuesday, September 16, 2014

Reliable Gas Transit to Europe Possible Only If Ukraine Honors Contract (Gazprom)

Reliable Russian gas deliveries to Europe are possible only on the condition that Ukraine’s state-run gas company observes transit agreements, Russian energy giant Gazprom said Tuesday.

Gazprom board of directors discussed future relations with its Ukrainian partner at a meeting Tuesday. The Russian company had to switch to advance payment scheme over Ukraine’s outstanding gas debt of $5.3 billion.

“Special attention was paid to Russian gas deliveries to European consumers via Ukraine during the forthcoming winter season

Participants of the meeting stressed that the reliability of these supplies can be ensured only on the condition that Naftogaz of Ukraine strictly observes its transit contract,” the statement reads. 

“The board of directors was also advised to take measures to minimize the risks of disruption of supplies to European consumers during the 2014-2015 winter season.”

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