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Gazprom Will Pay Ukrainian Debt
Deputy secretary of the National Security and Defense Council of Ukraine Yury Prodan held a briefing in Kiev yesterday at which he explained how Ukraine will pay its $2-billion debt to Gazprom. Gazprom will pay $500 million in advance for the transit of gas across Ukraine through the end of the year. Naftogaz Ukrainy will use that money to pay its debt to Ukrgaz-Energo, the Ukrainian gas trader that is owned in equal parts by Naftogaz Ukrainy and Rosukrenergo. Rosukrenergo will partially pay its debt to Gazprom with the same money.
Gazprom declines to comment on that information, but a Russian source acquainted with the situation confirmed the Ukrainian official's words. He added that Gazprom would not charge interest on the advance payment.
In addition to the cash, Gazprom will receive ownership of 4 billion cu. m. of natural gas in Ukrainian underground reservoirs that belongs now to Rosukrenergo and is earmarked for export to Europe. It will pay $150 per 1000 cu. m., and will be able to sell it for $250-290 per 1000 cu. m. (not counting transport costs). Ukrainian Minister of Fuel and Energy Yury Boiko said last week that Gazprom would buy an additional 8 billion cu. m. of gas from Ukrainian reservoirs at $150 and sell it within the country for $156 per 1000 cu. m. The $6 difference represents payment for storage, Boiko specified. The National Security and Defense Council stated yesterday that the cost of gas storage is actually $7.84 per 1000 cu. m., and the fee charged Gazprom should be raised.
“Now Gazprom will reassign the gas from the underground reservoirs to itself as security against surprises that may take place with Rosukrenergo after the new government comes to power. It was done extravagantly. They made so much noise about a debt that didn't really exist,” commented chairman of the Supreme Rada heating and power committee Viktor Topolov.
www.kommersant.com
All the Article in Russian as of Oct. 16, 2007
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