Ukraine has cut its application for natural gas imports from Slovakia by 5 times from 1 March 2018 onwards. Beginning on 1 March 2018, Ukraine intends to import 2.5 million cubic meters against the 12.5-12.9 million cubic meters the country was importing in the last days of February, the Slovakian gas transit operator Eustream has informed, Interfax-Ukraine reports.
Earlier Gazprom informed that NAK Naftogaz-Ukraine has paid in advance to renew the shipment of Russian gas from March. At the same time, Gazprom refunded the money due to the absence of an additional ratified agreement to the existing contract.
“Obviously, no gas deliveries will be made to NAK Naftogaz-Ukraine from 1 March”, - the vice chairman of the executive board of Gazprom Alexandr Medvedev said.
Last night, the longstanding litigation between the two corporations came to an end at the Stockholm Court of Arbitration. The court ruled Gazprom to compensate Naftogaz-Ukraine with $4.63 billion for the shortfall of the agreed gas volume for its transit. Therefore, as the result of the two arbitration cases between Naftogaz-Ukraine and Gazprom, the latter has been ordered to pay the Ukrainian party a total of $2.56 billion.
Naftogaz-Ukraine, beginning in February, decided to refrain from gas imports from Europe. However, for the period of cold weather at the end of the winter the corporation resumed gas imports from the western border of the country.
In 2017, Ukraine raised imports of natural gas by 26.8% (or by almost 3 billion cubic meters) against the 2016 level, to 14 billion 50,1 million cubic meters. In January 2018, Ukraine imported 44.8% less gas (or 651.6 million cubic meters), compared to the same month in 2017 – to 801.5 million cubic meters.