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Gazprom ready to sue Ukraine's Naftogaz over shortfall in gas supplies

12:57 21/06/2012

KIEV, June 21- RAPSI. Gazprom said it may sue Ukraine if Naftogaz fails to meet its gas purchase commitments, Kommersant newspaper reports.

Energy and Coal Minister of Ukraine Yuri Boiko said yesterday that Naftogaz is expected to import only 27 billion cubic meters of Russian gas in 2012. The amount has been approved by the Cabinet of Ministers in the predicted balance for the current year.

Kommersant noted that shortly before Boiko made his statement, Gazprom had said it expected Ukraine to meet its contractual obligations, which stipulate that it has to pay for at least 41.6 billion cubic meters of gas this year.

The gas supply contract between Gazprom and Naftogaz states a "take or pay" provision, covering 80% of the contracted gas supplies. Ukraine is thereby committed to pay for at least 41.6 billion cubic meters of gas out of 52 billion cubic meters scheduled for supply in 2012.

A Gazprom source said the company may go to court if Ukraine defaults on its commitments.

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Gazprom ready to sue Ukraine's Naftogaz over shortfall in gas supplies

12:57 21/06/2012 Gazprom said it may sue Ukraine if Naftogaz fails to meet its gas purchase commitments.
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