SLOW UKRAINIAN GAS
Aug 26 Ukraine's efforts to store natural gas for winter are running 1 billion cubic metres behind their pace last year, Prime Minister Arseny Yatseniuk said on Wednesday.
Ukraine has 14.1 billion cubic metres (bcm) of gas in underground storage, he said.
The country aims to store 18-19 bcm of gas before the winter heating season begins in mid-October.
"On this day last year, we had 1 billion more ... We're in talks with our Western partners to get short-term funding to pump gas," Yatseniuk said at a government meeting.
Ukraine suspended gas imports from Russia in July over pricing, leaving it dependent on domestic output and imports from Europe.
The European Bank for Reconstruction and Development (EBRD) said it was considering a $300 million trade finance loan to state-run Naftogaz to help it buy gas.
The government has ordered Naftogaz to borrow $1 billion to create a fund to finance the purchase, transport and storage of gas.
Talks have been held not only with the EBRD, but also with the World Bank and International Monetary Fund.
Ukrainian President Petro Poroshenko will travel to Brussels on Thursday to meet European Commission President Jean-Claude Juncker to discuss gas, among other topics.
Last week the Commission said it might be able to hold another round of ministerial talks with Russia and Ukraine on gas at the end of September.
|November, 17, 19:55:00|
|November, 17, 19:50:00|
|November, 17, 19:45:00|
|November, 17, 19:40:00|
|November, 17, 19:35:00|
|November, 17, 19:30:00|
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.
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.
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.
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.