Friday, November 25, 2016

EU energy chief assures Russia that Ukraine has funds to purchase gas

Vice-President of the European Commission in charge of Energy Union Maros Sefcovic has assured Russian Energy Minister Alexander Novak that Ukraine has funds for the purchase of gas and Ukraine will receive additional funds in the near future, the Russian Minister told reporters.

"We expect that our Ukrainian partners will act within the framework of existing contracts. In case there are available resources (Russia will provide additional supplies of gas - TASS.), we also discussed it and our European colleagues confirmed that Ukraine’s Naftogaz has appropriate resources. In the near future additional recourse will be allocated that may be used on purchase of gas," he said.

Novak reminded that currently the system of prepayment is effective in the framework of the contract with Ukraine.

He said that Russia guarantees supplies if prepayment is made in time.

The Minister also said that Russia may supply additional 1.5-4 bln cubic meters of gas to Ukraine and this possibility will be discussed at the trilateral meeting between Russia-EU and Ukraine.

"It concerns supplies in the amount between 1.5 and 4 bln b cubic meters of gas. These deliveries will be carried out strictly in accordance with the contracts, which were signed in 2009. We will have to meet in a trilateral format to discuss demand and time of delivery," he said.

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