by winston » Wed Mar 25, 2015 7:43 am
Ukraine: Natural Gas
Beginning on April 1, Ukraine plans on not buying natural gas from Russia as their interim deal expires.
“At the moment we don't need to buy Russian gas. We will simply stop buying it,” Ukrainian Energy Minister Volodymyr Demchyshyn said.
Ukraine says that since it can access natural gas from its European neighbors at a lower price than what Russia is demanding, “there’s no reason to buy” Russian natural gas.
With that said, Demchyshyn is engaging in a bit of bluster. Ukraine and Russia are in the midst of negotiations over a new natural gas contract, which could be signed in mid-April.
With the sticking point once again over the price that Ukraine ultimately pays, Ukraine stands to gain if it can credibly demonstrate that it does not need Russian gas as much as Russia thinks it does. Therefore, Ukraine may stop importing Russian gas on April 1. But even if it does, given Ukraine’s energy needs, it will likely only be temporary.
Source: Oil Price Intel
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