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Gazprom: Ukraine Owes $2.6 bln for 2015 Q3 Gas

Posted by January 19, 2016

Gazprom says Ukraine has to pay for 10.485 bcm; Kiev has refused to buy Russian gas.

Russia's Gazprom said on Tuesday that Ukraine owes it $2.549 billion for gas in the third quarter of last year which should be paid off in the next 10 days, adding a new element to Moscow and Kiev's politically charged dispute over gas supplies.

The new claim includes monies said to be owed under a take-or-pay clause in the supply deal and Gazprom said on Tuesday the gas volumes in question for the quarter amounted to 10.485 billion cubic metres.

Gazprom and Ukraine's Naftogaz have taken their dispute to an international arbitration court in Stockholm with Gazprom's total claims against Ukraine currently standing at $29.2 billion.

The new claim has been made at a time when Naftogaz is seeking to raise pipeline transit fees for exporting Russian gas across its territory to Europe.

Ukraine halted Russian gas purchases in mid-summer over pricing disagreements, increasing its purchases in Europe instead.

Naftogaz told Reuters on Tuesday that it didn't buy Russian gas in the third quarter. Gazprom has said it continued to supply gas to rebel-held eastern Ukraine.

Mykhailo Gonchar, head of the Kyiv International Energy Club 'Q-club', said that Gazprom's latest claim is likely to be related to Naftogaz's demand for an increase in transit fees.

"Gazprom can not just say 'no', so it has found such an answer - if you hike the tariff, we will remind you of the 'take-or-pay' rule," Gonchar said.

Kiev has said it will avoid buying Russian gas as it is too expensive. Russia used to supply Ukraine with around half of its total gas needs.

Ukraine cut its natural gas consumption by 21 percent to 33.7 billion cubic metres in 2015, mostly due to an economic slowdown and a suspension of gas supplies to separatist-held territories.

 

Reporting by Vladimir Soldatkin

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