Gazprom starts Ukraine's gas contracts termination in Stockholm

Source : 112 Ukraine

Russian government thinks that these contracts are economically inappropriate and unprofitable for Gazprom
16:49, 2 March 2018

Open source

After the ruling of the Stockholm Arbitration, Russia's Gazprom announced its intention to terminate gas contracts with Naftogaz Ukraine, Interfax reports.

“The Stockholm Arbitration, guided by double standards, made a biased decision on the gas supply contract with Naftogaz. Arbitration’s decision has significantly upset the balance of interests of the parties to the contract,” Alexey Miller, the Chairman of Gazprom Board said.

“Arbitrators based their decision on Ukraine’s sharp economic slowdown. We definitely don’t want to worsen the economic problems in Ukraine. In such situation, the extension of the agreement is economically unviable and unprofitable for Gazprom,” he said.

According to Miller, “Gazprom has to start termination of gas supply contracts with Naftogaz immediately through the Stockholm Arbitration”.

As reported earlier, on March 1 Gazprom reported that Naftogaz-Ukraine has made an advance payment for the resumption of Russian gas supplies from March. At the same time, Gazprom refunded the money, stating that this was due to the lack of an agreed addendum to the current contract. Naftogaz called Gazprom's refusal to supply gas a violation of the agreement and failure to comply with the arbitration decision.

Later, on March 2 Naftogaz-Ukraine called on Ukrainians to lower the temperature in offices and households by 1-2 degrees in order to reduce the overall gas consumption.

After this, the Ministry of Energy and Coal Mining made a shift for generating companies from gas to fuel oil, suspended service of elementary educational establishments, schools and universities, advised enterprises to revise their business plans so that to achieve greater gas saving.

Volodymyr Groysman, the Prime Minister, described such actions of Gazprom as “blackmail of Ukraine and Europe” and entrusted Naftogaz Board with solving the gas shortage problem.

Ukraine’s President Poroshenko joins the initiative of Naftogaz-Ukraine, aimed at saving gas, and encourages state institutions and citizens to also lower the temperature in the premises.

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