Gazprom buys KyrgyzGaz for US$1. -Gazprom will be responsible for KyrgyzGas’ debt of US$40 million

BISHKEK, Kyrgzstan - An agreement to buy 100 percent shares of Kyrgyz national gas operator KyrgyzGas by the Russian energy giant Gazprom was signed on Thursday.

The head of KyrgyzGas, Turgunbek Kulmurzayev and Gazprom CEO, Alexei Miller signed the document in Kyrgyz capital Bishkek. Gazprom purchased KyrgyzGas for a symbolic price of one U.S. dollar.

“The symbolic price of one dollar for the sale of KyrgyzGas has been widely criticized,” Kyrgyz President Almazbek Atambaev said after the signing, adding that, “However, Gazprom will be responsible for KyrgyzGas’ debt of US$40 million and will additionally invest US$600 million in the energy sector in Kyrgyzstan.”


The Russian energy giant aims to increase the annual 30 billion cubic meters of natural gas production of Kyrgyzstan, Gazprom CEO Miller said.
[aa.com.tr]
10/4/14
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Related:

• Russia OKs Purchase of Kyrgyz Gas Company for $1

• Russia’s Gazprom Takes Over Gas Monopoly in Kyrgyzstan for $1

• Το μονοπώλιο φυσικού αερίου στο Κιργιστάν αποκτά η Gazprom. -Έναντι 1 δολ.

  

 

Price of gas for Ukraine set at $485 per 1,000 cubic meters. -Naftogaz's debt is estimated at more than $2.2 billion

The price of gas for Ukraine is set at $485 per 1,000 cubic meters as of April 2014, Gazprom CEO Alexei Miller said. Gazprom is concerned by the substantial decrease in reserves of active gas stored underground in Ukraine, the Russian gas giant said after a Thursday meeting in Moscow between its CEO Alexei Miller and the head of Ukraine's national oil and gas company Naftogaz Ukrainy, Andrei Kobolev.

"In this connection, the need for its replenishment to meet domestic needs next winter is rising and, accordingly, [the necessity of] Naftogaz meeting its obligations as to uninterrupted Russian gas transit to Europe," the company said.

During the meeting was discussed "the necessity of taking quick measures for Naftogaz Ukrainy to pay off its accumulated debt for Russian gas deliveries. By now, considering March deliveries, Naftogaz's debt is estimated at more than $2.2 billion," Gazprom said.

The Ukrainian company has yet to comment on the outcome of the meeting. According to Fuel and Energy Dispatch Center (CDU TEK) figures, Naftogaz received 1.968 billion cubic meters of Russia gas worth $528 million last month.

The March account is to be paid up on April 7. Debt for deliveries in 2013 and previous months amounts to $1.711 billion.

That means the debt could rise to $2.239 billion next week.
[voiceofrussia.com]
3/4/15
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Related:

• The price of Russian natural gas for Ukraine is $385.5 per 1,000 cubic meters starting April 1. -Gazprom's "December discount" for Ukraine can no longer be used.

Ukraine looks forward to reverse gas flow from Slovakia. - Ukraine has failed to meet its commitments to pay its 2013 gas debt

Kiev hopes Slovakia is capable of pumping through 20 bln cubic meters of gas as the price of EU gas is lower than Russia’s.

Ukraine is looking forward to a political decision by the EU to start reverse gas supplies from Slovakia, parliament-appointed Ukrainian Prime Minister Arseniy Yatsenyuk said Wednesday.
“Slovakia and its gas operators have all technical resources in place to start reserve gas flows. All they need is a final 'go-ahead',” Yatsenyuk told Dragon Capital Investor Conference.

“We hope that Slovakia is capable of pumping through 20 bln cubic meters of gas. The price of EU gas is lower than Russia’s: $350 per 1,000 cubic metres. Now it's entirely a matter of politics,” he said.
Ukrainian national joint stock company Naftogaz is negotiating with Germany to become a “direct buyer” of fuel without any mediators, Naftogaz Board Chairman Andrey Kobolev said on Tuesday, April 1.
Several gas traders have contracts with Germany. So, Naftogaz still hopes to start fuel purchases from that country on the border with Ukraine.

Ukraine “has been working with Slovakia” to import gas from other EU states through that country.
In the meantime, there are some obstacles in this issue, Kobolev said.
“We have a relatively clear-cut action plan, but we cannot announce it yet,” he said.
Slovakia itself takes a very cautious position on this issue. It names such variant as “one of the scenarios” and fears that Ukraine will not pay.
“Slovakia is ready to help. However, any aid is economically limited,” the Slovakian government said in March.

• The price of Russian natural gas for Ukraine is $385.5 per 1,000 cubic meters starting April 1.

Gazprom's "December discount" for Ukraine can no longer be used.
Ukraine has failed to meet its commitments to pay its 2013 gas debt and effect 100% payment for current supplies, which has further increased its gas bill, Gazprom CEO Aleksei Miller said on Tuesday, April 1.
"As of now, the debt has reached 1.711 billion dollars," he said.
 [itar-tass.com]
2/4/14
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Related: 

• Russia's Gazprom announces big gas price rise for Ukraine ...

• Ukraine ready to import reverse gas at price not above Russian gas fee

• Ukraine’s debt for Russian gas supplies over $1.8 billion — Gazprom CEO

• Miller: Gazprom cannot supply gas to Ukraine for free

• Naftogaz notifies Gazprom about its inability to pay for gas supplies in February

Ukraine’s debt for Russian gas supplies over $1.8 billion — Gazprom CEO

Ukraine’s debt for Russian gas supplies by country’s gas giant Gazprom makes more than $1.8 billion now, Gazprom CEO Aleksey Miller told reporters Thursday.

Ukraine’s debt for Russian gas supplies by country’s gas giant Gazprom makes more than $1.8 billion now, Gazprom CEO Aleksey Miller told reporters Thursday.


“Today Ukraine’s gas debt makes more than $1.8 billion . Meanwhile, the debt keeps growing from month to month from the beginning of the year. Yes, Ukraine is in a deep political crisis, but it is needed to pay for gas.

 Today we see that our actions towards Ukraine are absolutely lawful. We have all rights under effective contract to pass to prepayment for Russian gas supplies to Ukraine. 

But we do not do this and we realise that this is a very important aspect so that an economic collapse will not break out in Ukraine and so that risks for Russian gas transit to Europe will not arise,” Miller said.
en.itar-tass
13/3/14
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Related;

• Four European Nations Appeal for US Natural Gas Exports

• Miller: Gazprom cannot supply gas to Ukraine for free

• Naftogaz notifies Gazprom about its inability to pay for gas supplies in February

Miller: Gazprom cannot supply gas to Ukraine for free

Russia’s gas monopoly Gazprom has received no payments from Naftogaz, Gazprom CEO Alexei Miller said.

MOSCOW, March 07. /ITAR-TASS/. Russia’s gas monopoly Gazprom has received no payments from Ukraine’s state energy company Naftogaz Ukrainy for February’s Russian gas supplies, Gazprom CEO Alexei Miller told journalists on Friday.


“Today, on February 7, was the deadline for payments for February’s gas deliveries to Ukraine,” he said. “Gazprom has received no debt payments. With a discount in the first quarter, Ukraine’s overdue debt for gas has significantly increased, reaching 1.860 billion dollars.”
“This actually means that Ukraine has stopped paying for Russian gas. This contradicts completely provisions of the contract and international trade practice,” Miller said. “We have always fulfilled and we will fulfill our contractual obligations.”

“However, we cannot supply gas for free. Either Ukraine clears the debt and pays for current deliveries, or there is a risk to return to the situation in early 2009,” he said, referring to the gas dispute between Russia and Ukraine, when Gazprom temporarily halted deliveries to Naftogaz.
“We will keep the Russian government informed of the current situation,” he added.
http://en.itar-tass.com/economy/722649
6/3/14
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Related:

• Naftogaz notifies Gazprom about its inability to pay for gas supplies in February

• Gazprom to Cancel Gas Discount for Ukraine

• Ukraine increases Russian gas imports, braces for hike

• Να ακυρώσει τη συμφωνία «φθηνότερου φυσικού αερίου» με την Ουκρανία μελετά η Gazprom λόγω του τεράστιου χρέους

Gazprom to Cancel Gas Discount for Ukraine

GORKI, March 4 (RIA Novosti) – The head of Russia’s state energy giant Gazprom said Tuesday that it will annul its discount on natural gas sales to Ukraine from April, a move that will further stretch Kiev’s teetering finances.
Alexei Miller, who made the announcement while meeting with Prime Minister Dmitry Medvedev outside Moscow, motivated the decision by pointing out that Ukraine is $1.55 billion in arrears on payments for natural gas deliveries.

“The decision that you have taken about canceling subsidies on deliveries seem, in these conditions, perfectly fair,” Medvedev said.
Ukraine’s national oil and gas company Naftogaz Ukrainy had as of February 14 paid Gazprom $1.28 billion for gas delivered last year and had asked to postpone payment of what remained until April 15.
Gazprom said in early February that Ukrainian debt for 2013 deliveries stood at $2.63 billion, meaning that Naftogaz had around $1.35 billion still to pay at the middle of the month.
Naftogaz bought around 13 billion cubic meters of gas from Russia in 2013 at the rate of $400 per thousand cubic meters.

That price was substantially reduced in December to $268.5 per thousand cubic meters.
The discount was part of a raft of support mechanisms devised by Russia for Ukraine following the latter’s decision in late November to back away from signing a deal that would have deepened political and economic relations with the European Union.
Under the arrangement between Naftogaz and Gazprom, the size of the discount was to be determined on the first day of every new quarter and formalized within 10 days. Failure to renew the discount deal by April 10 would cause it to cease having effect.
Moscow has so far paid $3 billion out of a promised $15 billion loan, which was to be issued as payment for internationally listed Ukrainian bonds.
Critics of the loan and discount package have argued that it was devised as a bribe to induce Ukraine to cement its ties with Russia, spurn the European Union and defer much-needed structural economic reforms.
The chances of the remainder of the Russian loan being provided looks slim since last month’s ouster of Ukrainian President Viktor Yanukovych, who was chased out of office at the culmination of three months-long protests initially provoked by his decision on the EU deal.
The incoming Ukrainian government confirmed by parliament last month is viewed with deep suspicion by the Kremlin, which has nonetheless vaguely committed to cooperating with the international community on providing its western neighbor with financial assistance.
Interim Prime Minister Arseny Yatsenyuk has warned of his country’s desperate financial state and that unpopular decisions would urgently need to be taken.

• Delegations from the EU and the International Monetary Fund are visiting Ukraine this week to assess the country’s needs as it faces a wave of looming financial and security crises.

http://en.ria.ru/world/20140304/188083296/Gazprom-to-Cancel-Gas-Discount-for-Ukraine.html
4/3/14
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Related:

• Ukraine increases Russian gas imports, braces for hike

• Να ακυρώσει τη συμφωνία «φθηνότερου φυσικού αερίου» με την Ουκρανία μελετά η Gazprom λόγω του τεράστιου χρέους

• Ukraine to ensure uninterrupted transit of Russian gas. – Deputy Premier, Yuri Boiko

Ukraine increases Russian gas imports, braces for hike

Ukraine has increased gas imports from Russia over the last few days, a spokesman for Ukraine’s gas transit monopoly said on March 3, amid warnings that state gas producer Gazprom might scrap a discount on prices.

As concerns grow over gas supplies after Russian President Vladimir Putin won parliamentary approval to invade Ukraine, analysts say Kyiv is trying to import as much gas as possible at the lower prices.

Moscow, has warned Kyiv it could lose the discount it currently gets from Gazprom due to Kyiv’s outstanding gas debt.

“We doubled our gas imports from Russia. We imported 45 million cubic metres of gas on March 1, 2014, compared with 20 million on March 1, 2013,” said Maxim Belyavsky, a spokesman for Ukraine’s gas transit monopoly Ukrtransgas..........http://www.hurriyetdailynews.com/ukraine-increases-russian-gas-imports-braces-for-hike.aspx?pageID=238&nID=63142&NewsCatID=344
3/3/14
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Related:

• Να ακυρώσει τη συμφωνία «φθηνότερου φυσικού αερίου» με την Ουκρανία μελετά η Gazprom λόγω του τεράστιου χρέους

• Ukraine to ensure uninterrupted transit of Russian gas. – Deputy Premier, Yuri Boiko

Russia OKs Purchase of Kyrgyz Gas Company for $1

MOSCOW, February 4 (RIA Novosti) – Russian President Vladimir Putin signed a law Tuesday to ratify a deal with Kyrgyzstan to buy the former Soviet republic’s debt-ridden natural gas monopoly for $1.
Kyrgyzstan’s parliament approved the deal in December to hand Moscow control over the strategic asset in exchange for a guaranteed supply of natural gas.
Under the agreement, Russian energy giant Gazprom will gain control over pipelines, gas distribution stations and underground storage facilities owned by Kyrgyzgaz.
Kyrgyzstan will also have a right to buy back Kyrgyzgaz assets in 25 years.

• Gazprom has committed to invest 20 billion rubles ($610 million) in modernizing the Kyrgyz company’s infrastructure over the next five years.

Deputy Russian Energy Minister Anatoly Yanovsky said last month that Russian investment could reach 30 billion rubles ($847 million).
Gazprom will also take over more than $40 million in debt. Kyrgyzstan has suffered increasing difficulties in maintaining gas supplies because of rising debts to neighboring Kazakhstan and Uzbekistan.
Kyrgyzstan has been racked by political upheavals in the past decade and two presidents have been overthrown by popular revolts in the impoverished republic.

• The strategically important nation, which borders China, hosts both a Russian and an US military base. The Kyrgyz parliament told the US military to vacate its air base by July.

• Russia recently agreed a 15-year extension to the lease on its military base as part of a package of measures that included writing off $500 million of Kyrgyz debt.

 http://en.ria.ru/russia/20140204/187198494/Russia-OKs-Purchase-of-Kyrgyz-Gas-Company-for-1.html
4/2/14
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Related:
 

• Russia’s Gazprom Takes Over Gas Monopoly in Kyrgyzstan for $1

• Το μονοπώλιο φυσικού αερίου στο Κιργιστάν αποκτά η Gazprom. -Έναντι 1 δολ.

Greece has finished talks with its creditors

Greece has finished marathon talks with the ‘Troika’ of creditors over its €31.5bln aid package, according to the Greek Prime Minister Antonis Samaras.
“Today we finished talks on the austerity measures and the budget. We did everything possible,” the Prime Minister said on Tuesday. "Should the agreement be approved [by the Parliament], and the budget adopted, Greece will remain within the Eurozone and will go out of the crisis.”
Samaras added that Athens had achieved “significant improvement” in the deal on offer, and warned of “chaos” if the measures were rejected by MPs.

At the moment Greece is seeking to receive another €31.5bln tranche out of the second bailout package amounting €130bln. In return the country should save €13.5bln in two years, with the exact ways of reaching the target remaining vague. The so-called Troika of creditors that includes the European Union, the International Monetary Fund and the European Central Bank may ask Greece to implement around 150 reforms within 2 years, Germany’s Spiegel said last week. This will include certain changes to minimum wage rules, as well as abolishing professional privileges.
The announcement from Samaras has caused immediate reaction from bloggers on the internet.Comments largely grin at the PM’s calling negotiations ‘successful,’ while in fact “the scale of the austerity that will be heaped on Greeks has increased by billions of euros since the measures were originally mapped out after Greece's second bailout back in March,” the Guardian blogger said.
Greece austerity package went from €11.5bln to €13.5B, €5.5bln of cuts in 2013 that turned into €9.5bln.
Labor reforms that had long remained an outstanding issue were agreed earlier on Sunday, with no detail revealed.

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