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2015-08-31 18:50:00

SLOW UKRAINIAN GAS - 2

SLOW UKRAINIAN GAS - 2

Ukraine has asked Russia to reduce the cost it charges the country for gas as well as write-off loans Russia has given it.

In the past, gas disputes between the two countries have led to shut-offs, including a 2009 standoff, which caused serious disruptions to the EU.

An emergency deal was struck between both Russia and Ukraine for winter pricing that has since expired and new talks are to be held if Ukraine is to receive more gas from Russia.

Ukrainian Prime Minister Arseniy Yatsenyuk was quoted in an official press release as saying: "We are convinced that the only mechanism to ensure a gas transit to the EU as well as stable supplies to Ukraine is applying the same mechanism that was worked out last year between the EU, Ukraine and Russia."

The previous deal set the price of Russian gas for Ukraine at $385 per 1,000 cubic meters. Russia also offered a 30 percent discount of the contract price, worth up to $100 off per 1,000 cubic meters, which was dependent on on global energy prices.

As reported on by the AP, the Ukrainian government settled a deal on Thursday with its international bondholders to lighten its public debt burden. It will see the creditors write off 20 percent of their bond holdings from $19 billion in sovereign debt to $15.5 billion.

The AP also noted that although Russian creditors did not take part in talks, Ukrainian officials insisted Thursday that Moscow should accept the same terms because it would not get a better deal than Ukraine's other creditors.

naturalgaseurope.com

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Tags: RUSSIA, EU, GAS, UKRAINE,

Chronicle:

SLOW UKRAINIAN GAS - 2
November, 24, 09:15:00

SAUDI'S OIL FOR CHINA

BLOOMBERG - As Saudi Arabia led OPEC’s output cuts this year to shrink a global glut, it’s lost out on market share in the world’s biggest energy consumer. Russia in September retained the top Chinese supplier spot for the seventh straight month, while the kingdom was third.

SLOW UKRAINIAN GAS - 2
November, 24, 09:10:00

URALS QUALITY WILL DOWN

PLATTS - The quality of Russia's key Urals crude exports towards Europe will continue to fall next year as more of the country's low-sulfur oil flows are diverted eastward to China, Russian national oil pipeline operator Transneft warned.

SLOW UKRAINIAN GAS - 2
November, 24, 09:05:00

S.KOREA'S SOLAR UP

FT - OCI — the world’s third-largest polysilicon maker by capacity and South Korea’s biggest — this month reported a 3,373 per cent increase in operating profit to Won78.7bn ($72m) for the July-September quarter, its best performance in five years. Rival Hanwha Chemical saw third-quarter net profit jump 25 per cent to a record Won252bn. 

SLOW UKRAINIAN GAS - 2
November, 24, 09:00:00

U.S. RIGS UP 8 TO 923

U.S. Rig Count is up 330 rigs from last year's count of 593, with oil rigs up 273, gas rigs up 58, and miscellaneous rigs down 1 to 0. Canada Rig Count is up 41 rigs from last year's count of 174, with oil rigs up 13, gas rigs up 30, and miscellaneous rigs down 2 to 2.

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