BRUSSELS, June 11. /ITAR-TASS/. The stability of gas supplies to Europe depends entirely on Russia, Ukrainian Energy and Coal Industry Minister Yuriy Prodan said on Wednesday, June 11.

Ukraine will not file a lawsuit against Russia with the Stockholm court of arbitration until June 16, Ukrainian Energy and Coal Industry Minister Yuri Prodan said after trilateral consultations with Russia and the European Union in Brussels on Wednesday, June 11.

“There is still time until Monday to resolve the issue,” he said.

Prodan said Ukraine might agree to a price ranging from $268.5 to 385 per 1,000 cubic meters pending the Stockholm court ruling.

He believes that the only way to settle the gas dispute with Russia is to take the matter to the Stockholm court of arbitration.

Prodan said Ukraine was ready to continue the gas talks “while waiting for the decision of the Stockholm court of arbitration”.

“We will disagree if any part of the price depends on a government decision. We want to change the entire pricing mechanism,” the minister said.

Prodan said Ukraine had proposals concerning reverse flow gas supplies at prices much lower than the one offered by Russia, which suggested selling gas to Ukraine for $385 per 1,000 cubic metres.

“We have received an offer from European suppliers which is much lower than the Russian price. We hope that Gazprom will offer a better price,” he said.

 

Russia sets price at $385 per 1,000 cu m, ready to continue talks

European Energy Commissioner Gunther Oettinger said Ukraine considered the price of $385 overstated and depending on a political decision of the Russian government.

He said the European Commission hoped to get a solution to the gas issue by next Monday, June 16.

Russian Energy Minister Alexander Novak said Moscow was ready to hold a new meeting on June 16 if proper proposals were put forth.

Novak suggested returning to the 2010 agreement under the current contract effective until 2019, which will set the price at $385 per 1,000 cubic meters.