Ukraine sees no need for more Russian gas through end of year
By ELENA MAZNEVA and KATERYNA CHOURSINA
Bloomberg
Ukraine can cope without additional supplies of Russian natural gas through the end of the year and sees no need to prepay for more fuel until then, according to the country’s energy minister.
Ukraine’s underground stockpiles are sufficient, and fuel prices should fall further by the first quarter when a new supply deal with Russia is expected, Volodymyr Demchyshyn told reporters in Kiev. Gazprom said Nov. 20 that Ukraine’s previous upfront gas payments may only cover supplies until Tuesday morning.
Ukraine’s gas consumption “is less than expected,” Demchyshyn said. “Therefore there is no critical need now to make any kind of prepayment.”
Ukraine, reliant on Russian gas for more than 20% of its needs, halted imports from Gazprom in July on a pricing dispute before resuming shipments in October to refill underground storage sites. Supplies restarted after the European Union brokered an interim deal between the former Soviet allies. An international arbitration panel is to rule on their gas supply contract in mid-2016 at the earliest.
Eastern members of the European Union, which receives about 10 percent of its gas from Russia through Ukraine’s pipeline network, suffered shortfalls at least twice in the past decade during similar disputes.
Ukraine’s Demchyshyn said Monday that Ukraine is buying about 30 million cubic meters (1.1 billion cubic feet) of gas from the EU daily. Russia and Ukraine plan another EU-brokered deal by year-end, which will set a price level for the first quarter. An agreement is possible by Dec. 20, Interfax reported, citing Demchyshyn.
Moscow-based Gazprom’s press office declined to comment immediately today.
Ukraine has enough gas in storage as well as continuing imports from the EU to cope without Gazprom’s fuel during the heating season, Andriy Kobolyev, CEO of Ukraine’s state energy company NAK Naftogaz Ukrainy, said in an interview with Unian news service published Nov. 13.
- Gasum powers Equinor's platform supply vessel with bio-LNG
- ADNOC deploys pioneering AI-enabled process optimization technology
- Mexico Pacific announces long-term LNG SPA with POSCO International
- ONEOK to acquire Medallion and controlling interest in EnLink for $5.9 B
- Golar LNG signs EPC deal for $2.2-B MK II FLNG conversion project
Comments