Group DF Position on Russia-Ukraine Gas Agreement
21/01/2009
The terms of the Russia-Ukraine gas deal remain unclear, particularly as they relate to Rosukrenergo's gas in storage which is contracted to European customers. Regarding the debt owed by Naftogaz to Rosukrenergo, Mr Firtash today again confirmed that the remaining debt as of today is $650 million for last year which Naftogaz is still to pay.
It is also clear that as a result of this deal, Ukraine will be paying around $360 per tcm, which is double the price it was paying under the mechanism set up with RUE and which the Ukrainian economy will find difficult to sustain.
Rosukrenergo is unconcerned about the provisions of a Russia-Ukraine gas deal eliminating the need for intermediaries in the gas trade. Mr Firtash said: "RosUkrEnergo is quite a large company and for us the Ukrainian business was never profitable. Therefore, if we no longer have the obligation to supply Ukraine, this will only make me happy."
It is also clear that as a result of this deal, Ukraine will be paying around $360 per tcm, which is double the price it was paying under the mechanism set up with RUE and which the Ukrainian economy will find difficult to sustain.
Rosukrenergo is unconcerned about the provisions of a Russia-Ukraine gas deal eliminating the need for intermediaries in the gas trade. Mr Firtash said: "RosUkrEnergo is quite a large company and for us the Ukrainian business was never profitable. Therefore, if we no longer have the obligation to supply Ukraine, this will only make me happy."