Russia will not offer new discounts of LNG to Ukraine

Noam Stiekema

Russia does not intend to offer new discounts on natural gas price to Ukraine, according to the statement of Minister of Energy of the Russian Federation Alexander Novak. Probably in September will have a new meeting in format Moscow-Kiev-Brussels which will discuss the prices for gas for Ukraine. Since the beginning of July the country […]

LNG price

LNG priceRussia does not intend to offer new discounts on natural gas price to Ukraine, according to the statement of Minister of Energy of the Russian Federation Alexander Novak. Probably in September will have a new meeting in format Moscow-Kiev-Brussels which will discuss the prices for gas for Ukraine. Since the beginning of July the country stopped importing of Russian gas, because the Russian state giant Gazprom refused to make further discounts. Kiev insisted the price for 1,000 cub m of LNG to be decreased to 200 USD during the summer. However, the Russian Federation decided to maintain the current price of 247 USD, which was introduced a compromise last year, together with a requirement for prepayment of supplies to a decision of the Arbitration Court in Stockholm on prices.

According to Russian authorities Ukraine must start pumping gas in underground storage facilities to ensure supplies to European consumers, as the required quantities are around 19 billion cub m. Just several days ago the Ukrainian energy minister admitted that during the winter might have some problems in delivery of gas and electricity to Ukrainian customers.

Without foreign loan of around 1 billion USD, the country will be able to accumulate in storage only 14.5 billion cub m of natural gas, which is insufficient for the customers.

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