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Kiev ready to hold negotiations with Russia on summer gas package — PM Yatsenyuk

February 06, 2015, 17:35 UTC+3 KIEV
Ukraine expects that the gas price will constitute around $250-300 per 1,000 cubic meters in summer, prime minister Arseniy Yatsenyuk says
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Ukrainian Prime Minister Arseniy Yatsenyuk

Ukrainian Prime Minister Arseniy Yatsenyuk

© Maxim Nikitin/TASS

KIEV, February 6. /TASS/. Kiev is ready to hold negotiations with Russia and European partners on the summer gas package, Ukrainian Prime Minister Arseniy Yatsenyuk told a briefing on Friday.

"We are ready to hold negotiations. We expect that the gas price will constitute around $250-300 per 1,000 cubic meters in summer," Yatsneyuk said.

Talking about Kiev’s debt for the supplied Russian gas, the prime minister said that "the Stockholm court deals with the debt." "We demand $6 billion in compensation. The court will decide who owes what to whom," Yatsenyuk added.

Initially, Gazprom filed a claim against Naftogaz on June 16, 2014 "to recover more than $4,500 million unpaid debt for gas supplies and related interest charged," Gazprom’s financial statements for the first nine months of 2014 said.

Infographics Gas agreement signed by Russia, Ukraine and the EU Gas agreement signed by Russia, Ukraine and the EU
Gas agreement signed by Russia, Ukraine and the EU On October 31 Russia, Ukraine and the EU signed an agreement on gas supplies. Infographics by TASS

In response, Naftogaz filed a lawsuit seeking a retroactive revision of the gas price and compensation of all overpaid amounts starting from May 20, 2011, which according to the claim amounted to not less than $6 billion.

In autumn last year, Naftogaz filed a claim with the Stockholm Arbitration Tribunal seeking to revise the contract on the transit of Russian natural gas to Europe via Ukraine and oblige Gazprom to pay $3.2 billion in compensation and related interest "for the failure to provide gas for transit."

Naftogaz also demanded a retroactive revision of gas transit tariffs.

Therefore, Naftogaz claims $6 billion compensation for the retroactive revision of the gas price and all overpaid amounts from May 2011, and also $3.2 billion for lower gas transit volumes plus $3 billion in compensation for the low gas transit rate.

Together with penalties and fines, Ukraine’s claims a total of $12.2 billion from Gazprom.

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