Ukraine Buys More Gas to Compensate for Russia's Cut
Posted on: Friday, 8 July 2005, 12:00 CDT
Excerpt from report by Interfax-Ukraine news agency
Kiev, 8 July: The Ukrainian national oil and gas company, Naftohaz Ukrayiny, has signed a contract with RosUkrEnergo A.G. (Switzerland) to buy additional 6bn cu.m. of gas, a source close to the Ukrainian government told Interfax-Ukraine.
Naftohaz Ukrayiny is holding talks with RosUkrEnergo on buying even more gas, the source said.
[Passage omitted: Naftohaz Ukraine director promised to prevent gas shortage this year]
From 1 January 2005 RosUkrEnergo was the operator delivering Turkmen gas from the Turkmen-Uzbek border to the Russia-Ukrainian border through Uzbekistan, Kazakhstan and Russia.
Naftohaz Ukrayiny pays RosUkrEnergo 37.5 per cent of the gas delivered to the Ukrainian-Russian border and then can buy this gas to sell inside Ukraine.
If Naftohaz buys 36bn cu.m. of gas from the Turkmen gas company Turkmenneftegaz, RosUkrEnergo will get 13.5bn cu.m. as payment.
Last year Naftohaz Ukrayiny signed a contract with RosUkrEnergo to buy up to 7bn cu.m. of gas at 63 dollars per 1,000 cu.m. RosUkrEnergo also sell gas in Europe.
Hungarian-based EuralTranGas Kft used to deliver Turkmen gas to Naftohaz Ukrayiny before.
Source: BBC Monitoring Former Soviet Union
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