Russia announces further Ukraine gas supply cut

04 March 2008 17:59  [Source: ICIS news]

MOSCOW (ICIS news)--Gazprom announced a further cut in natural gas to Ukraine on Tuesday over an ongoing financial dispute which could lead to supply disruption in Europe.

 

The Russian gas monopoly cut supplies by a further 25%, Gazprom spokesman Sergei Kupriyanov said in televised remarks.

 

He said supplies to Europe would not be adversely affected despite Ukraine earlier hinting that gas transit from Russia to Europe could be limited in the event of further cuts. 

 

The latest reduction comes after a previous 25% cut announced earlier this week.

 

From 3 March Gazprom cut supplies from 138.6m cubic metres/day down to 104m cubic metres/day. On Tuesday it increased the reduction down to 69.3m cubic metres/day.

 

Unless Ukrainian representatives return to negotiations, Gazprom may cut gas supplies again, Kupriyanov warned.

 

Gazprom has claimed that Ukraine owes it about $1.5bn, while Ukraine's state-owned Naftogaz alleged it had paid for gas supplied by Gazprom. 

 

By: Sergei Blagov
+44 20 8652 3214

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