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Monday, 01 December, 2008, 22:10 GMT | more >>

Naftohaz hands over $178m to Gazprom



By Upstream staff 

Naftohaz Ukrainy has paid a second tranche of nearly $178 million to Gazprom as it attempts to pay off gas import arrears of about $1.5 billion owed to the Russian giant.

Gazprom had threatened to cut some supplies to Ukraine over the debts, but last week Moscow and Kiev clinched an agreement which allowed Ukraine to pay off the debt in installments and, over time, to do away with intermediaries.

A Naftohaz official told Reuters the company had paid the money to Ukrgazenergo - one of the intermediaries that secures the gas from Gazprom via another go-between called RosUkrEnergo.

Ukrainian President Viktor Yushchenko and Kremlin leader Vladimir Putin agreed on terms to settle the debt and on creation of joint ventures between Gazprom and Naftohaz to replace the current intermediaries


Wednesday, 20 February, 2008, 10:20 GMT  | last updated: Wednesday, 20 February, 2008, 10:20 GMT

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