Russia Gas Exports to Ukraine Down 50%

Russia Gas Exports to Ukraine Down 50%

Ukraine’s 2014 natural gas imports from the Russian Federation amounted to 14.5 billion cubic meters, compared to 28.5 bcm in 2013, the press service of Ukraine’s gas transportation system (GTS) operator Ukrtransgaz said on Tuesday, RT reported.
According to the company, the natural gas volume imported from Russia is 36.2% of the total amount of gas that during 2014 was supplied to the Ukrainian gas transportation system. Ukraine only imported 40.1 billion cubic meters of gas in 2014, compared to 50 billion cubic meters in 2013, Ukrtransgaz said.
The energy crisis in the country forced it to turn to coal and wood for heat, and the country was hit with emergency blackouts to conserve energy. Energy in Ukraine is highly subsidized by the government.
Kiev can buy gas from Russia at $378 per 1,000 cubic meters, a lower price than Russia offers most of its European clients. This deal is valid through March, to ensure Ukraine and Europe don’t face an energy crisis in the winter months, as in 2006 and 2009 when gas disputes between Ukraine and Russia resulted in gas shortages across Europe.
Russia’s state-owned Gazprom ceased gas delivery on credit to Ukraine in mid-June, and the taps were only turned back on in mid-December.
Deliveries to Ukraine resumed after the country began paying off its more than $5 billion in arrears to Gazprom. By the end of 2014, Ukraine’s gas importer, Naftogaz, had paid off $3.1 billion in gas debt, in two large tranches, one in November and the other in December.

Short URL : http://goo.gl/aaRdz1

You can also read ...

Philippines Struggles to Embrace Renewable Energy
Renewable energy costs are falling across the world, but the...
India to Keep Fuel Prices in Check
India is looking at ways to keep rising fuel prices in check,...
OPEC Not Rushing to Boost Production
OPEC is not in a rush to start winding down the production...
Oil Prices Rise as China, US Put Trade War on Hold
Oil prices rose on Monday as markets reacted to news that...
Iran's electricity industry ranks 14th in the world in terms of output.
Driven by its vast potential in the electricity industry, Iran...
Shourijeh Gas Storage Capacity to Reach 4.5 bcm
Shourijeh natural gas storage facility in the northeastern...
Changing Working Hours  Could Help Save Electricity
Changing working hours in state organizations during peak...