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Tag: russian
2009-01-03 01:05:39| Guardian Unlimited Business - more business news
Russia upped the ante in the "gas war" with Ukraine yesterday when it accused its former Soviet neighbour of stealing millions of dollars' worth of transit supplies destined for European client states.The Gazprom state energy giant cut natural gas deliveries to Ukraine on 1 January after a protracted dispute over unpaid bills and prices for this year's supplies.Moscow and Kiev have promised that flows through the same pipeline network to Germany, Italy, France and other European consumers including Britain will not be disrupted.These client countries have so far reported no drop in supplies, but Gazprom's chief spokesman, Sergei Kupriyanov, said Kiev was now threatening deliveries. "The Ukrainian side has openly admitted that it is stealing gas, and it is not even ashamed of this fact," he said.Naftogaz, Ukraine's state energy concern, has said it is diverting 21m cubic metres of gas a day to maintain enough pressure in its pipeline network to ensure daily transit shipments of about 300m cubic metres to Europe."It's true that such a quantity of gas is necessary for technical reasons," Kupriyanov told the Guardian. "But under our agreement it should be bought by the Ukrainian side, not simply removed from transit supplies." At last year's rates, 21m cubic metres would cost $3.8m (£2.6m).The Ukrainian company denied it was siphoning off gas. "Naftogaz considers that any statement from official representatives of Gazprom about the unsanctioned siphoning off by Ukraine of Russian gas destined for Europe is untrue," it said. Kupriyanov said Gazprom had been obliged to increase supplies through Ukraine and Belarus and from its storage facilities in Europe to compensate for the siphoning and ensure steady supply to clients. The measures also helped to meet a shortfall after Naftogaz agreed to carry only 296m cubic metres in transit rather than the requested 303m yesterday.The root of the dispute lies in Ukraine's failure to pay off more than $2bn in debt for gas supplied by Russia last year. Naftogaz says it has paid $1.5bn to RosUkrEnergo, a Swiss-registered intermediary company. Gazprom, the world's biggest natural gas supplier, expects to receive that payment but cannot check if it has hit its accounts until after the Orthodox Christmas holidays, which fall next week. Gazprom is also demanding $614m in fines.The row is also about the price for supplies to Ukraine this year. Last year Kiev paid $179.50 per 1,000 cubic metres of gas and this year says it is prepared to pay $235 if transit fees charged to Russia are increased, citing falling rates across Europe. Gazprom initially offered $250 without a transit fee change. However, it says that Ukraine's refusal to accept that "subsidised" rate means it has reverted to its original bargaining position of $418.Tense political relations between Moscow and Kiev over President Viktor Yushchenko's wish for Ukraine to join Nato and Russia's alleged meddling in Ukrainian elections have made negotiations more difficult.Around a quarter of the gas used in the European Union and more than 40% of the gas it imports comes from Russia, most of it pumped in pipelines that pass through Ukraine.If supplies are disrupted the affect could be noticed quickly. Ukraine has enough gas in underground storage to satisfy internal demand until April, but other European countries have only reserves for a few days.Talks broke down on 31 December when the two sides could not agree a deal by midnight. They appeared to have reached an impasse yesterday. A spokesman for Naftogaz told Moscow's Ekho Moskvy radio station: "We hope there won't be prolonged talks until March and that we will reach a contract by Christmas [7 January in Russia and Ukraine]."However, Kupriyanov said there had been no approach from Ukraine, whose negotiators were "sitting at home in Kiev". "We are waiting," he said. "This is the holiday season in Russia but Gazprom's managers are at their seats and ready to start talks again at any moment."Fuelling controversyThe latest dispute between Ukraine and Russia centres on an overdue gas bill worth $2bn (£1.38bn). Russia's Gazprom claims it is owed the money for gas delivered in November and December. Ukraine says it has paid $1.5bn in outstanding bills via a Swiss company - but not the late-payment fines. The two sides also disagree over the rate Ukraine will pay in 2009, and how much Russia should pay for its gas to be piped through Ukraine to European markets. Russia has been accused of using its energy might to put pressure on neighbouring countries; in turn Russia says Ukraine has used its strategic role in gas deliveries to blackmail it. About 80% of Russia gas bound for the European Union passes through Ukraine. Relations between Moscow and Kiev have been tense since 2004, when protests over a rigged election set Ukraine on a course to European integration.RussiaUkraineGasEuropeOil and gas companiesEuropean Unionguardian.co.uk © Guardian News & Media Limited 2009 | Use of this content is subject to our Terms & Conditions | More Feeds
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2009-01-02 14:16:56| Telegraph Business
Four fifths of Europe's gas imports from Russia come through Ukraine so will our bills go up as a result of the Kremlin turning off the taps?
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2008-12-30 15:40:00| Gizmodo
A store in Moscow advertised laptops for 80% off. The catch? There were only 10 of them. The resulting ruckus makes our Black Friday clusterfucks look like tea parties. [LiveLeak via Random Good Stuff]
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2008-12-30 00:11:52| digg
A Russian academic who has long predicted that an economic and moral collapse will trigger a civil war and the eventual breakup of the U.S. has recently found an eager audience: Russian state media.
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2008-12-28 18:46:23| The Economic Times
Year 2009 will be the worst for the Russian economy since the World War-II, with the country's national budget deficit touching the USD 70 billion mark, says the Finance Minister.
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