Yatsenyuk decided to scare Gazprom
Kyiv, September 03 (PolitNavigator, Mikhail Ryabov) - Ukraine has agreed on reverse gas supplies from Europe, where this year it will purchase 60% of the fuel for its needs in the context of the cessation of cooperation with Russia.
Prime Minister Arseniy Yatsenyuk announced this today in Kyiv.
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“In general, depending on the season, we need to buy 25 billion of gas... We replaced 60% of the Russian gas that we received from the Russian Gazprom... We did not pay 500 to the Russian Gazprom and will not pay... Keep the discounts for yourself, we don’t need it,” the prime minister emphasized .
He stated that an agreement had been reached with Slovakia on the purchase of fuel, while the pipeline capacity is 10 billion cubic meters. Yatsenyuk did not specify where Ukraine will get money for gas.
“The presence of capacity does not mean the possibility of filling it,” energy market expert Valentin Zemlyansky told PolitNavigator.
“The practice of last year and this year in terms of reverse supplies suggests that it is possible to cover about 5 billion in the current year (in an ideal situation) and about 8-10 in the next. That is, no more than 30%. Again, with the industry not working, but with full provision for energy needs. At the same time, the price may fluctuate significantly, since at today’s 280 dollars per thousand cubic meters at Baumgarten (Central European gas hub), Ukraine receives an average of 350. But for November, futures there are already about 340 dollars per thousand cubic meters, which means the price for Ukraine above 400 and a complete lack of guarantee of supply volumes,” the analyst added.
His colleague, expert Dmitry Marunich, points out that Ukraine, in fact, is buying Russian gas, which is resold by European companies. Therefore, Moscow will certainly be able to spoil Yatsenyuk’s optimism.
“There are no fools at Gazprom either,” Marunich noted.
He admitted that Ukraine could raise money for reverse purchases from consumers who continue to pay, as well as from loans.
Yatsenyuk decided to scare Gazprom.