Naftogaz transfers second tranche of $1.65 billion to Gazprom

NJSC Naftogaz of Ukraine transferred $1.65 billion to Gazprom as payment for the gas that was earlier delivered and not paid for, the company announced on Tuesday, December23.
“NJSC Naftogaz of Ukraine transferred to OJSC Gazprom $1.65 billion as payment for the gas that was earlier delivered and not paid for. Thus, in accordance with the agreements reached in Brussels, Naftogaz paid $3.1 billion in two tranches as payment for 11.5 billion cubic meters of gas delivered by OJSC Gazprom in November-December 2013 and April-June 2014,” reads the statement.
As reported, the first tranche of $1.45 billion was transferred to Gazprom on November 4. Another $378 million was transferred to Gazprom as advance payment for the supply of 1 billion cubic meters of gas on December 5.
The Russian gas monopoly has not supplied gas to Ukraine since mid-June due to unpaid bills. In late October, with the mediation of the European Commission, Ukraine and Russia agreed on interim terms of gas supplies for winter. They envisage that Ukraine should pay $3.1 billion of debt this year and prepay for this year’s gas supply. The price of winter supply will be $378 per thousand cubic meters this year and $365 next year.

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