Bloomberg News

Ukraine Pays Part of Russia Gas Bill, Gets Extension on Rest

December 07, 2011

(Updates with extended period for payments in third paragraph.)

Dec. 7 (Bloomberg) -- Ukraine paid about $440 million for natural gas imported from Russia in November and must pay an additional $562.2 million by Dec. 28, said the country’s state- run energy company, NAK Naftogaz Ukrainy.

The payment consisted of 7.2 billion rubles ($230 million) and $210 million, Naftogaz said today in an e-mailed statement from the capital, Kiev. The November bill is $972.2 million.

Russia has agreed to extend the deadline for monthly payments to the 28th day of each month from the 7th, according to the statement.

Ukraine is paying about $400 per 1,000 cubic meters of gas this quarter, according to Naftogaz. The former Soviet republic is seeking to renegotiate its contract with Russia to lower that price to $230. The two parties may complete talks on gas supplies by year-end, OAO Gazprom, Russia’s natural gas export monopoly, said Dec. 5.

--Editors: Andrew Langley, Jennifer Freedman

To contact the reporter on this story: Daryna Krasnolutska in Kiev at dkrasnolutsk@bloomberg.net

To contact the editor responsible for this story: Balazs Penz at bpenz@bloomberg.net


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