Ukrainian gas row cost Gazprom $800M

MOSCOW, Jan. 12 (UPI) -- Gas transit disruption to Europe over a debt row with Ukraine cost Russian energy monopoly Gazprom $800 million, Russian Prime Minister Vladimir Putin said.

Monitors with the European Union scrambled to deploy to dispatch centers at Ukrainian gas firm Naftogaz and at Gazprom facilities in Moscow to supervise gas volumes as Russian accused Ukraine of siphoning off supplies.

A row over arrears and price mechanisms between both parties disrupted the supply of natural gas to Ukraine and Europe for nearly a week amid a brutal cold spell.

Putin said beyond the $800 million in losses from European customers, the row forced a work stoppage at more than 100 wells in the region, the Financial Times reported.

Ukrainian officials sought language in an agreement settling the dispute that puts the blame squarely on Russia, which Putin described as "a mockery of common sense."

Officials said gas flow should resume Tuesday, though it may take as long as 36 hours for gas to reach all Gazprom customers in Europe.