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Monday, 01 December, 2008, 23:20 GMT | more >>

Gazprom and Kiev strike gas debt deal



By Upstream staff 

Russia's Gazprom and Ukraine's Naftogaz Ukrainy have agreed to restore full gas supplies to Ukraine two days after the giant Russian export monopoly cut back shipments in a price dispute.

Under the terms of the deal, Naftogaz agreed to redeem its debt for supplies for the first two months of 2008.

The Ukrainian state company also said flows of Russian gas transiting through Ukraine to Europe were moving in full, uninterrupted fashion.

In Moscow, Gazprom confirmed the agreement to resume normal supplies, a Reuters report said.

Russia had cut gas supplies to Ukraine in half on Tuesday over a long-running payment dispute, sparking concern in Brussels and Washington about the security of energy supplies. A quarter of Europe's gas comes from Russia, most of it through Ukraine.


Wednesday, 05 March, 2008, 14:52 GMT  | last updated: Thursday, 06 March, 2008, 07:53 GMT

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