Naftogaz has paid $49.6 million it owed to trader Rosukrenergo for natural gas consumed over agreed limits last winter

Wednesday, November 13, 2019

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Naftogaz, Ukraine's national oil and gas company, has paid $49.6 million it owed to trader Rosukrenergo for natural gas consumed over agreed limits last winter, Rosukrenergo said Friday. The trader, which handles Russian and Central Asian natural gas and is 50% owned by Russian energy giant Gazprom, had demanded that Naftogaz repay a debt of $372 million by August 15. "Naftogaz of Ukraine paid $49.6 million of its debt to use," the spokesman said. "They sent the money at the start of the week, but we only confirmed that we had received it today." Rosukrenergo became the focal point of a deal to end a bitter gas price spat between Ukraine and Gazprom in January. The Russian energy giant cut supplies to Ukraine but then said European consumers had reported shortfalls in natural-gas supplies traveling through two pipelines across Ukrainian territory, which led to accusations of siphoning. Under the deal, Ukraine pays $95 per 1,000 cubic meters of mixed gas from Russia and Turkmenistan. The pricing formula is based on a rate of $230 for Russian gas and $60 for the Central Asian republic's gas under a January deal for the first half of 2006. The spokesman said repayment of the remainder of the debt - $322.4 million - would be coordinated later.

Bookmark Naftogaz has paid $49.6 million it owed to trader Rosukrenergo for natural gas consumed over agreed limits last winter