Europe at risk of being cut off from Russian gas | Fin24
 
  • Credit Rating

    'I think Moody's will be happy' - President Ramaphosa says plan to deal with Eskom's debt is imminent.

  • 'No Basis in Fact'

    The PIC commission has slammed Iqbal Survé’s claims about Minister Pravin Gordhan.

  • Fin24’s newsletter

    Sign up to receive Fin24's top news in your inbox every morning.

Loading...

Europe at risk of being cut off from Russian gas

Jan 14 2015 17:50
Moscow - Russia's gas giant Gazprom said on Wednesday that there was still a risk that Europe could see a drop in supplies of Russian gas piped via Ukraine this winter.

"The transit risks in Ukraine remain this winter," Gazprom chief Alexei Miller was quoted as saying after meeting the new European Commissioner for Energy Union, Maros Sefcovic in Moscow.

Miller suggested that there could be a problem with Ukraine reducing transit supplies to Europe due to Kiev's problems with paying for enough gas for its own citizens to get through the winter.

Twice in the past decade Europe faced gas shortages during the peak winter heating season after Ukraine, which was locked in price disputes with Russia, allegedly took supplies destined for Europe from pipelines that cross its territory.

Gazprom said Miller was referring to the peak period of energy consumption at the end of January and in February.

"Ukraine, due to financial difficulties, was not able to buy the necessary volume of Russian gas in November and December last year and significantly depleted its reserves of gas in underground storage," Miller said.

Gazprom said for its part that it had met its obligations on supplies to Ukraine under a gas accord reached in November in Brussels but that Ukraine was not complying with its terms.

Ukraine's state gas company Naftogaz "is acquiring gas in lower volumes than in the Brussels accord," Gazprom complained.

Ukraine is taking gas out of its underground stores at a rapid rate, leaving supplies that are "not enough to reliably get through the winter period," Gazprom said in a statement.

Russian Prime Minister Dmitry Medvedev warned earlier on Wednesday that Russia could demand rapid repayment of a $3bn loan to Ukraine while the pro-Kremlin Viktor Yanukovych was still president in December 2013.

Russia agreed to give Ukraine a $15bn loan but handed over only the first instalment of $3bn before Yanukovych was swept from power.


gazprom  |  russia  |  ukraine  |  economy  |  gas
NEXT ON FIN24X

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Comments have been closed for this article.
 

Company Snapshot

#MINIBUDGET2019

Struggling power utility Eskom will take centre stage at this year's mini budget
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...

Voting Booth

What do you think about private healthcare in SA?

Previous results · Suggest a vote

Loading...