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Ukraine to Pay off $1.45 Bln in Russian Gas Debt Immediately

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According to the EU Energy Commissioner, Ukraine has confirmed its readiness to pay off $1.451 billion in Russian gas debt immediately and also pay for at least 4 billion cubic meters of Russian gas with Russia agreed to give Ukraine a $100 per 1,000 cubic meters discount until March 2015.

BRUSSELS, October 31 (RIA Novosti) — Ukraine has confirmed that it is ready to pay off $1.451 billion in Russian gas debt immediately, and to cover $3.1 billion of its debt to Russian energy giant Gazprom by the end of the year, EU Energy Commissioner Guenther Oettinger said.

“Ukraine is ready to pay $1.451 billion for gas deliveries during November-December 2013 and April-May-June 2014,” Oettinger said following a trilateral gas meeting late on Thursday.

“Until the end of the year Naftogaz will send a second tranche to pay for the open gas bills, which will amount to $1.65 billion. This way, Naftogaz will pay Gazprom 3.1 billion, so the disputable amount will decrease, the decision on which will be taken by the Stockholm Arbitration Court,” he added.

Ukraine also agreed to pay for at least 4 billion cubic meters of Russian gas, allowing uninterrupted supplies to the European Union during winter.

“Ukraine would be able to prepay for 4 billion cubic meters of gas,” Oettinger added.

Guenther Oettinger stated that Russia agreed to give Ukraine a $100 per 1,000 cubic meters discount until March 2015 in a form of export duty reduction.

On Thursday, Ukraine, Russia and the EU have coordinated all the details of the interim agreement on Russian gas deliveries to Ukraine through March 2015, and have signed an agreement, outlining conditions for gas deliveries during the winter months.

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