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2014-04-16 18:07:00

GAZPROM USE RIGHT

ГАЗПРОМ ИСПОЛЬЗУЕТ ПРАВО

Gazprom may avail itself of its right to switch the Naftogaz Ukraine over to prepayment for May deliveries of gas. This follows from the contract signed by Gazprom and Naftogaz on January 19, 2009.

"If payment is not made by the 7th of a month following the month for delivery, the seller has a right to switch deliveries over to prepayment. Not later than the16th of a month preceding the month of delivery, Gazprom makes out a preliminary bill which the buyer should foot in full prior to the beginning of the month for delivery. If the buyer fails to fulfil the obligation or does that improperly, the seller has a right partially or fully to terminate the fulfilment of its obligations," says Article 5 of the contract dated January 19, 2009.

Itar-Tass reported earlier that Naftogaz had failed to pay $500 million for the March supply of Russia's gas. Ukraine's aggregate debt as of the beginning of April is up to $2.2 billion.

On Tuesday, RWE and Nafrogaz Ukrainy announced a reverse supply of gas to Ukraine via Poland. Vladimir Chizhov, Russia's Permanent Representativeve at the European Union, when referring to a technological possibility of reverse supply, pointed out, "speaking in plain, not technological language, gas cannot be pumped in opposite directions via one and the same pipe". "Therefore, an attempt at arranging a reverse supply, be it from Slovakia or from Hungary, to Ukraine, that would mean that the supply of gas from east to west (to the European Union) will diminish," he said. Neither the RWE nor Naftogaz Ukrainy do not disclose a diagram for reverse supply of gas.

itar-tass.com

Tags: GAZPROM, ГАЗПРОМ, GAS, ГАЗ, UKRAINE, УКРАИНА

Chronicle:

ГАЗПРОМ ИСПОЛЬЗУЕТ ПРАВО
November, 15, 15:25:00

OIL PRICE: ABOVE $61 AGAIN

REUTERS - Brent crude futures LCOc1 were down 72 cents at $61.49 per barrel at 1020 GMT, having fallen by 1.5 percent on Tuesday, its largest one-day drop in a month. U.S. West Texas Intermediate (WTI) crude CLc1 was at $55.12 per barrel, down 58 cents.

ГАЗПРОМ ИСПОЛЬЗУЕТ ПРАВО
November, 15, 15:20:00

IEA COOLS THE MARKET

BLOOMBERG - Prices dropped during the session as the International Energy Agency said the recent recovery in oil prices, coupled with milder-than-normal winter weather, is slowing demand growth. The worsening outlook for consumption dampened some of the enthusiasm that OPEC and its allies will extend supply curbs.

ГАЗПРОМ ИСПОЛЬЗУЕТ ПРАВО
November, 15, 15:15:00

IEA: GLOBAL ENERGY DEMAND UP BY 30%

Global energy needs rise more slowly than in the past but still expand by 30% between today and 2040. This is the equivalent of adding another China and India to today’s global demand.

ГАЗПРОМ ИСПОЛЬЗУЕТ ПРАВО
November, 15, 15:10:00

RUSSIA'S OIL EXPORTS UP

Product exports have grown significantly over the past several years and are expected to continue to grow as Russian refineries add capacity to produce more high-quality products.

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