Wednesday, March 14, 2018

Russian gas deliveries to Europe safe unless Ukraine diverts supplies : Gazprom

Russian gas deliveries to Europe safe
The head of Russian energy giant Gazprom Aleksey Miller has guaranteed gas deliveries to Europe, as long as Ukraine doesn’t steal transit gas intended for the continent.

Earlier, Russian Energy Minister Aleksandr Novak also confirmed this information, saying that Gazprom’s natural gas supplies to Europe are seeing the highest volumes ever.

Speaking to Prime Minister Dmitry Medvedev, the head of Gazprom noted that the Stockholm Arbitration decision that ordered his company to compensate Ukraine’s Naftogaz to the tune of $2.56 billion is “an asymmetric decision that violated the balance of interests of the parties under contracts, for delivery and transit."

"In such conditions, these contracts become economically inefficient for us,” said Miller. Moreover, Ukraine’s Naftogaz, following the Stockholm court’s decision, intended to demand other penalty payments from Gazprom in 2018 and 2019, Miller said. That is why Gazprom announced it would sever gas delivery contracts with Ukraine.

"Undoubtedly, the decision to terminate contracts is not a very fast procedure, apparently, it will take a one and a half to two years,” the Gazprom CEO said.

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