Russian Govt. to Approve Gas Discount for Ukraine in Next Few Days

© RIA Novosti . Vitaly Bezrukikh / Go to the photo bankRussian Energy Minister Alexander Novak has confirmed that Russia will approve a $100 per 1,000 cubic meters gas discount for gas supplies to Ukraine in the next few days.
Russian Energy Minister Alexander Novak has confirmed that Russia will approve a $100 per 1,000 cubic meters gas discount for gas supplies to Ukraine in the next few days. - Sputnik International
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Russia will approve a $100 per 1,000 cubic meters gas discount for gas supplies to Ukraine in the next few days if Kiev pays off $1.451 billion in Russian gas debt immediately and $1.65 billion by the end of 2014 to guarantee winter gas supplies.

BRUSSELS, October 31 (RIA Novosti) — The Russian government will approve a $100 per 1,000 cubic meters gas discount for gas supplies to Ukraine in the next few days, but deliveries in January-March will be guaranteed only if Kiev pays off $3.1 billion of accumulated debt by the end of 2014, Energy Minister Alexander Novak said.

Under the trilateral agreement between Russia, Ukraine and the European Commission signed on Thursday, Kiev has to pay off $1.451 billion in Russian gas debt immediately and $1.65 billion by the end of 2014 to guarantee winter supplies with discounted price through March next year.

"If Kiev fails to pay off $1.65 billion, we will stop the supplies in January. It is stipulated in the agreement," Novak said.

"There are no risks for the Russian side and for Gazprom. If the debt is paid off – then there will be deliveries," Novak concluded.

He also emphasized that the deliveries will be made on prepayment conditions, and the price for supplies after March could revert to contractual $485 per 1,000 cubic meters.

On Thursday evening, 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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