Ukraine warned the European Union for possible crisis of natural gas supplies

Zurab Dzhavakhadze  TASS
Zurab Dzhavakhadze TASS
Author

04 March, 2018

Naftogaz had demanded multi billion dollars in claims from Gazprom for failing to pump a certain volume of gas per year through Ukraine, Reuters reported.

Olena Zerkal stresses that Kiev wants to convene trilateral negotiations in format Ukraine - EU - Russia to ensure the stability of gas supplies to Ukraine and the EU.

The gas dispute between the Russian and Ukrainian energy companies is one of the consequences of the troubled relations between the two countries since the 2014 Euromaidan protests in Ukraine, the subsequent regime change in Kyiv, the annexation of the Crimean peninsula by Russia, and the conflict that erupted in eastern Ukraine between the central administration and Russian-backed separatists.

Ukraine has switched power plants to oil from gas in an effort to make up for an emergency shortage after Russian company Gazprom declined to resume gas supplies to the country, Energy Minister Ihor Nasalyk said on Friday.

The dispute between Ukraine and Russian Federation on the gas issue has returned to the forefront Thursday after a court ruling that is supposed to end a four-year dispute after Moscow refused to resume supply of gas to Kiev as decided. "This will improve security of supply and give Ukrainians affordable energy".

Leaders break ground on Afghan section of TAPI
Akbar. "The South Asia is being connected with the Central Asia through Afghanistan after more than a century of separation", Ghani said.

The decision to terminate the contracts was made after the Stockholm Court of Arbitration violated Gazprom's interests. Since November 2015, Kiev has not bought Russian gas, replacing it with reverse gas from Europe.

All of these terms relate to gas that Ukraine buys for its own use. At the same time, the "take or pay" condition was preserved for 80% of this volume.

The current gas standoff is part of a wider political conflict between Russian Federation and Ukraine, which flared up in 2014 when a pro-Moscow Ukrainian president fled Kiev following violent street protests.

President Petro Poroshenko has stated that Ukraine has sufficient natural gas reserves in its underground storage facilities. We take their gas, sell it on the stock exchange and get money. The Stockholm court ruled that Gazprom should pay only $4.7bn to Naftogas.

Gazprom, obviously, will challenge the arbitration award.


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