Saturday, February 6, 2010

Ukraine Obligates One More Time to Gazprom

By Kateryna Choursina and Daryna Krasnolutska
Feb. 6 (Bloomberg) -- Ukraine will import 8.5 billion cubic meters of natural gas from Russia this quarter because of freezing temperatures, said Ihor Didenko, first deputy chief executive officer at NAK Naftogaz Ukrainy.
The country will keep its plan to import 27 billion cubic meters from Russia in all of 2010, Didenko said today at a press conference in Kiev. The largest volumes of fuel will be bought this quarter and in the fourth quarter.
Ukraine relies on Russia for more than 50 percent of its energy needs and ships about 80 percent of Russia’s Europe-bound gas. Ukraine signed a supply and transit contract with exporter OAO Gazprom in January 2009 to end a debt and pricing dispute, agreeing to pay for imports by the seventh day of each month.
NAK Naftogaz imported 2.55 billion cubic meters of Russian gas in January, more than initially planned, as temperatures plunged as low as minus 30 degrees Celsius (minus 22 Fahrenheit) in some regions. It paid $780 million for the gas, Fuel and Energy Minister Yuriy Prodan said on Feb. 3.
To contact the reporters on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net; Kateryna Choursina in Kiev at kchoursina@bloomberg.net
Last Updated: February 6, 2010 09:53 EST