• 4 minutes Will We Ever See 100$+ OIL?
  • 8 minutes Iran downs US drone. No military response . . Just Destroy their economy. Can Senator Kerry be tried for aiding enemy ?
  • 11 minutes Energy Outlook for Renewables. Pie in the sky or real?
  • 1 hour Iran Loses $130,000,000 Oil Revenue Every Day They Continue Their Games . . . .Opportunity Lost . . . Will Never Get It Back. . . . . LOL .
  • 2 hours Renewables provided only about 4% of total global energy needs in 2018
  • 2 days Iran Captures British Tanker sailing through Straits of Hormuz
  • 2 hours Berkeley becomes first U.S. city to ban natural gas in new homes
  • 20 hours EIA Reports Are Fraudulent : EIA Is Conspiring With Trump To Keep Oil Prices Low
  • 2 days Drone For Drone = War: What is next in the U.S. - Iran the Gulf Episode
  • 3 days Today in Energy
  • 6 hours Shale Oil will it self destruct?
  • 3 hours So You Think We’re Reducing Fossil Fuel? — Think Again
  • 4 hours N.Y. Governor Signs Climate Bill
  • 2 hours First limpet mines . . . . now fly a drone at low altitude directly at U.S. Navy ship. Think Iran wanted it taken out ? Maybe ? YES
  • 1 day Oil Rises After Iran Says It Seized Foreign Tanker In Gulf
  • 12 hours U.S. Administration Moves To End Asylum Protections For Central Americans
It’s Time For A Fire Sale In U.S. Shale

It’s Time For A Fire Sale In U.S. Shale

The U.S. shale patch is…

India’s Solution To A 100% Surge In Energy Demand

India’s Solution To A 100% Surge In Energy Demand

India’s increasing hunger for energy…

Ukraine Prepares For Gas War As Talks With Gazprom Drag On

Ukraine gas

Ukraine’s gas in storage reached 13 billion cubic meters as of June 22 as the country prepares for a worst-case scenario in which it loses its role as the main channel for Russian gas into Europe, state news agency Unian reported, noting the amount of gas represented 42 percent of storage capacity. This, according to Emerging Europe, is the highest amount of gas in storage in six years.

Russia has denied that it will cut off Ukraine from its gas transportation system—which would cause serious losses of transit fee revenues—but Kiev has insisted Moscow wants to do just that by expanding the Nord Stream pipeline. Currently, Gazprom and Naftogaz, which is the parent company of Ukrtransgaz, are negotiating the terms of their future transit dealings after they finally settled a court case in which both sides accused the other of wrongdoing.

Ukraine has been quick to warn of a looming gas crisis: the country’s deputy foreign minister Olena Zerkal said earlier this month, as quoted by Bloomberg, “While Russia holds off the negotiations on future contract, the gloomy scenario of a gas crisis shall be considered seriously. That is why every European nation, including Ukraine, is increasing gas stock in storage sites.”

The new deal needs to be negotiated by next January when the current contract expires. Russia’s Alexander Novak said talks are in the process of being scheduled for September and would involve Ukraine, Russia, and representatives of the European Union, which gets more than a third of its gas supply from Russia, most of it via Ukraine.

Also earlier this month, a Naftogaz official offered an alternative to the direct gas transit: he said Gazprom could sell the gas directly to Naftogaz at the Russian-Ukrainian border and then the Ukrainian company would sell it on to European states. Given that Gazprom has repeatedly accused Naftogaz of not paying its dues for the transit, the chances of the Russian major accepting this sort of deal are slim.

By Irina Slav for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

Leave a comment
  • Carroll Price on June 26 2019 said:
    That's what happens when you side with the devil.

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News
Download on the App Store Get it on Google Play