Showing posts with label contracts. Show all posts
Showing posts with label contracts. Show all posts

Thursday, April 24, 2014

Gazprom sends Ukraine $11.4bn bill for unshipped gas. - In the take-or-pay contract Ukraine is obliged to pay for the volume agreed

Russia’s Gazprom, the world’s biggest natural gas producer, has sent a $11.4 billion bill to Ukraine’s Naftogaz. The money is for the two thirds of the gas it failed to use under its 2009 take-or-pay contract .
According to the contract Naftogaz had to consume 41.6 billion cubic meters of gas last year, while Ukraine used only 12.9 billion cubic meters, Bloomberg quotes Aliona Osmolovska, a spokeswoman for the Ukrainian company as saying.

EL News