Berlin hosts talks with Naftogaz of Ukraine
Berlin hosted a working meeting between Alexey Miller, Chairman of the Gazprom Management Committee and Andrey Kobolev, Chief Executive Officer of Naftogaz of Ukraine.
The meeting addressed a wide range of issues regarding the bilateral cooperation in the gas sector.
On request of the Ukrainian party, the debt settlement deadline was postponed until 10th June, due to 9th June being a holiday in Ukraine.
Background
Ukraine's total debt for Russian gas supply amounts to US$ 4.455 billion: US$ 1.454 billion for November and December 2013 and US$ 3 billion for April and May 2014.
In line with the contract, a decision was made to switch Naftogaz of Ukraine to gas prepayment starting with June 2014 due to persistent non-payments. On 2nd June Naftogaz of Ukraine settled the debt for Q1 2014 by paying off US$ 786 million. Thereby, switching to prepayment was deferred to 9th June.
Adapted from press release by Hannah Priestley-Eaton
Read the article online at: https://www.worldpipelines.com/business-news/05062014/berlin_hosts_talks_with_naftogaz_of%C2%A0_ukraine/
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