• 3 minutes Cyberattack Forces Shutdown Of Largest Gasoline Pipeline In United States - Zero Hedge
  • 6 minutes Renewable Energy Capacity Jumped 45% Worldwide In 2020; IEA Sees 'New Normal'
  • 11 minutes Forecasts for Natural Gas
  • 15 mins U.S. Presidential Elections Status - Electoral Votes
  • 18 hours Is the Republican Party going to perpetuate lies about the 2020 election and attempt to whitewash what happened on January 6th?
  • 7 hours Electric vehicle market growth is a blessing for some metals — and not a big worry for oil
  • 3 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 18 hours .
  • 1 hour Сryptocurrency predictions
  • 2 days CRAPPIFORNIA DOES IT AGAIN! California proposes to steer new homes from gas appliances
  • 2 days 1 in 5 electric vehicle owners in California switched back to gas because charging their cars is a hassle, new research shows

Breaking News:

Rosneft Swings BackTo Profit In Q1 2021

One Junior Miner May Have Sparked A New Gold Rush In Canada 

One Junior Miner May Have Sparked A New Gold Rush In Canada 

An up-and-coming gold exploration company…

James Burgess

James Burgess

James Burgess studied Business Management at the University of Nottingham. He has worked in property development, chartered surveying, marketing, law, and accounts. He has also…

More Info

Russia Claims Ukraine Owes it $7 Billion for Natural Gas it Never Used in 2012

Russia has calculated that Ukraine owes it $7 billion for gas imports that it was contractually obliged to pay yet never took delivery of in 2012.

It is probably not a coincidence that Moscow has made this demand just days after Ukraine signed a $10 billion deal with Royal Dutch Shell to develop shale gas plays, intended at reducing reliance on Russian imports.

Elena Yurieva, a spokeswoman for Naftogaz, the state energy company, told the Ukrainian news agency, UNIAN, that they had “paid on time for all the natural gas delivered to us by Gazprom.”

An industry source also told Reuters that, “in our opinion, we don't owe anything to anyone. All the gas which we should have bought last year according to the contract, we bought and have paid for.

Related article: Dow Opposes US Natural Gas Export Plans

It looks as if everything is linked to the signing of the agreement with Shell in Davos.”

Naftogas has been at odds with Gazprom ever since the previous prime minister of Ukraine, Yulia TYmoshenko, signed the exploitative deal back in 2009. Tymoshenko has since been jailed for her part in arranging the contract.

Under the deal Ukraine must buy a fixed volume of gas each year at $430 per 1,000 cubic metres, a level well above market prices.

Gazprom has calculated that Naftogaz was committed to buy 42 billion cubic metres in 2012, whereas they only imported 33 billion cubic metres. Ukrainian sources do not trust Gazprom’s calculations.

By. James Burgess of Oilprice.com



Join the discussion | Back to homepage



Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News