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EU Offers to Guarantee Gas Deliveries to Ukraine

Ukraine-Russia_gas_pipelines[source]

Earlier this week, Russia and Ukraine agreed on the price ($385/1000m3) of Russian gas deliveries for the coming winter. That’s settled then. Oh wait, Ukraine has no money. No worries, there is still the EU, we mean, the European tax payer. EU Energy Commissioner Gunther Oettinger suggested that if the Ukrainian gas company Naftogaz could not pay for the gas, the EU could buy the gas and resell it to Ukraine, obviously against soft conditions. Another suggestion could be that Russia will subtract the price of gas deliveries to Ukraine from the transfer fees it is paying to Ukraine for the right to transfer gas to Europe, through Ukraine. Europe is Russia’s most important source of income. Gazprom is lukewarm about the idea of the EU playing the cavalier, probably because in this way, Russia is loosing political leverage over Ukraine. Therefor Gazprom points at existing contracts that supposedly forbid reselling practices.

Next week a final agreement is expected between all parties involved.

[rt.com] – Ukraine’s multi-billion dollar gas debt: Who pays?

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