facebook
twitter
rss
account
search
search
 

Ukraine late on natural gas bills

Gazprom says debt close to $5 billion.
By Daniel J. Graeber   |   July 8, 2014 at 9:04 AM   |   Comments

http://cdnph.upi.com/sv/em/upi/UPI-7371404823589/2014/1/da4ffd04febec2223f9fefbdeca272af/Ukraine-late-on-natural-gas-bills.jpg
MOSCOW, July 8 (UPI) -- Ukrainian energy company Naftogaz continues to rack up debt for outstanding gas payments because of disagreements over price, an official said Tuesday.

Russian news agency ITAR-Tass said it was told by an official at Ukrainian state energy company Naftogaz it didn't make any payments for June gas by the Monday deadline because of price disagreements.

Ukraine lost out on a discounted price for natural gas in the wake of the November political upheaval that saw Kiev move closer to the European Union.

Russian energy company Gazprom in June said it would send natural gas to Ukraine only if paid in advance. Gazprom says Ukraine's gas debt is in excess of $5 billion.

Naftogaz has filed a case in an international court of arbitration challenging its natural gas debt to Gazprom.

Naftogaz was held under a take-or-pay contract with Gazprom, meaning it was obligated to a set volume of natural gas whether it used that gas or not.

Follow @dan_graeber and @UPI on Twitter.
Contact the Author
© 2014 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
Recommended UPI Stories
Featured UPI Collection
trending
Notable deaths of 2014 [PHOTOS]

Notable deaths of 2014 [PHOTOS]

Most Popular
1
U.S. Air Force orders more RQ-4 Global Hawks U.S. Air Force orders more RQ-4 Global Hawks
2
Talon rocket in full-rate production for UAE Talon rocket in full-rate production for UAE
3
Students hurt in high school lab fire Students hurt in high school lab fire
4
EU, Kiev, Moscow gas talks suspended EU, Kiev, Moscow gas talks suspended
5
Hotel chain suspending sponsorship of Minnesota Vikings Hotel chain suspending sponsorship of Minnesota Vikings
Trending News
Video
x
Feedback