Gazprom adds $11bn to Ukraine’s bill

Published Apr 25, 2014

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Reuters Moscow

Russia’s Gazprom has reportedly slapped Ukraine energy firm Naftogaz with an extra $11.4 billion (R121bn) gas bill, more than five times its previous claim, ratcheting up pressure on Kiev.

The political crisis in Ukraine, now in its fourth month, has pitted Russia against the US and the EU, which have sanctioned Moscow over its annexation of the Crimea peninsula.

A Gazprom source said the $11.4bn was in addition to the $2.2bn that Naftogaz already owed for supplies last year and so far this year.

The source said the bill, sent on Wednesday, was related to Naftogaz’s failure to meet a “take or pay” clause for gas supplies.

News agency Interfax reported that Gazprom deputy chief executive Alexander Medvedev had told reporters about the bill in Paris.

Gazprom and Naftogaz declined to comment.

The “take or pay” requirements in a gas supply contract make consumers pay for gas whether they take physical delivery or not.

Naftogaz should have imported 41.6 billion cubic metres under the 2013 contract terms, but shipped in only 12.9 billion cubic metres, the source said.

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