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Ukraine to Go Underground for Gas
Russia’s gas monopoly, Gazprom, has set the date for cutting off gas supplies to Ukraine. It may happen already tomorrow at 10:00 a.m. MSK. Kiev first acknowledged the debt to Russia yesterday. Naftogaz Ukrainy will pay it off by the loan of Deutsche Bank provided Gazprom enters into a direct contract with the gas price of $179.5/ths cu meters. The parties have resources for prolonged bargaining. Should Gazprom implements its threat, Ukraine may use the underground storage, i.e. Europe won’t suffer from another gas war of Moscow and Kiev.
First time after Gazprom’s ultimatum related to $1.5-billion arrears of Ukraine, Kiev officially acknowledged yesterday the availability of such debt. The respective statement was delivered by First Vice Premier Alexander Turchinov, who had previously blamed the crisis on intermediaries, Rosukrenergo (50/50 owned by Gazprom and Ukrainian businessmen Dmitry Firtash and Ivan Fursin) and Ukrgaz-Energo (Rosukrenergo has 50 percent and Naftogaz Ukrainy owns the remainder). Never specifying the definite amount of arrears, Ukraine conditioned debt’s settlement to entering into a direct contract with Gazprom.
In the January 31 letter to Gazprom Deputy Chairman of the Management Committee Valery Golubev, NAK Naftogaz Ukrainy First Deputy Board Chairman Igor Didenko acknowledged the $1,040.5-million debt to Ukrgaz-Energo generated as of January 1, 2008. “NAK is ready to settle the said arrears, but for the disputable $76 million, over six to eight weeks after executing the funds raised with Deutsche Bank, with which the company is holding respective negotiations,” the letter says.
People in Gazprom said they received the letter but it couldn’t be taken as the guarantee for debt’s payment. On Friday, the monopoly fixed the time for cutting off gas supplies to Ukraine. It may happen February 12, 10:00 a.m. MSK.
Ukraine’s PM Yulia Tymoshenko and Naftogaz CEO Oleg Dubina focused on the issue Saturday. Dubina left for Moscow past night for another round of negotiations.
According to Didenko’s letter to Gazprom, the key demand of Ukraine is the direct purchase of Middle Asia’s gas from monopoly at the previously agreed price ($179.5/ths cu meters). In Gazprom, however, they insist that direct purchase will mean supplies of Russia’s gas (Rosukrenergo has the contracts for gas of Middle Asia) at $314.7/ths cu meters.
www.kommersant.com
All the Article in Russian as of Feb. 11, 2008
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