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 Naftohaz Official Explained Why Company Is in no Hurry to Prepay for Russian Gas

Naftohaz of Ukraine is in no hurry to make payment in advance to the Russian Gazprom due to difficulties with fundraising and further gas price reduction

Naftohaz of Ukraine business development director Yurii Vitrenko announced, Censor.NET informs citing Interfax-Ukraine.

"Why don't we transfer upfront money? There are two factors: firstly, it is financially difficult for us now - we have problems with collecting funds from consumers. Second, the price for Russian gas will be lower in the first quarter of 2015 due to its binding to the price of the oil in the formula. Thus, it is not logical to pump (into the underground gas storages. - Ed.) some additional volume of gas now," he said.

Read also: Slovakia Will Provide Reverse Gas to Ukraine, Despite Smaller Supplies from Russia

Yurii Vitrenko added that Ukraine understands and realistically assesses the risks associated with the purchase of gas from Russia in later periods.

"Yes, there are risks. This is especially true for December. If we transfer the Russian Federation the second part of $3.1 billion, the supplies may be suspended. But if we refer to the Stockholm arbitration it will most certainly oblige the Russian federation to supply gas," he said.

The agency's interlocutor said that current Naftohaz priority is to use the opportunities of the gas supply to Ukraine from the EU.

 
 
 
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