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Ukrainian company gas transit revenues fall 17%

July 28, 2014, 16:56 UTC+3 28 28/7
Transit transportation of Russian gas across Ukraine was reduced seven percent in the past six months as compared to last year's January-June period
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© ITAR-TASS/Vitaly Grabar

KIEV, July 28./ITAR-TASS/.Gas transit revenues of Naftogaz of Ukraine dropped 17% in the first half of this year as compared to the same period of last year to 9.03 billion hryvnia ($750 million), the Ukrainian company said in a report.

Transit transportation of Russian gas across Ukraine was reduced seven percent in the past six months as compared to last year's January-June period to 36.571 billion cub/m from 39.353 billion cubic/m.

Naftogaz sold 15.814 billion cub/m for 30.443 billion hryvnia (about $2.54 billion) on the domestic market. Last year, the company sold 15.796 billion for 31.994 billion ($2.66 billion).

Gas transit via Ukraine

The throughput capacity of the Ukrainian gas transportation is 288 billion cubic meters at the entrance and 178.5 billion cubic meters at the exit, including 142.5 billion cubic meters to European countries and 3.5 billion cubic meters to Moldova.

Ukraine’s gas transportation system consists of 72 compressor stations, 110 production shops and 1,451 gas distribution stations. The overall length of gas pipelines operated by the company is 38,600 kilometers, including 22,200 kilometers of trunk pipelines and 16,400 kilometers of extensions.

Naftogaz is Ukraine's major state-run oil and gas company producing more than 97% of oil and gas in the country. It explores for, extracts and transports oil and gas and sells oil products through its own gas stations.

The European Commission has proposed holding EU-Russian gas consultations in Moscow this week, the commission's press service said on Monday.

The European Commission hopes to resume talks with Russia and Ukraine to find solutions to the problems of natural gas price and supplies to Ukraine, as well as Kiev’s gas debt, the press service added.

The European Union needs Ukraine to refill its underground gas storages ahead of winter as a number of EU countries are dependent on gas supplies via Ukraine during a cold spell.

On July 24, Gunter Oettinger and Ukrainian Energy Minister Yuri Prodan discussed the resumption of gas talks."We are ready to continue these consultations and talks at any moment," Prodan said after the meeting in Brussels.

Brussels has proposed a gas price of $385 per 1,000 cubic meters, while Kiev continues to seek a lower price and wants to revise its 2009 gas contract with Russian energy giant Gazprom.

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