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Gazprom and Ukraine find solution to gas deficit

      RBC, 08.09.2006, Moscow 09:23:09.Ukraine's Fuel and Energy Ministry and Gazprom of Russia have agreed on a solution to Ukraine's gas balance deficit for Q4 2006 at a meeting between Gazprom's CEO Alexei Miller and Ukrainian Fuel and Energy Minister Yury Boyko, the gas holding's press office said. The parties also considered Ukraine's gas balance for Q1 2007. Gazprom stressed that the price for extra gas supplies to Ukraine will be determined with due consideration of strategic cooperation prospects.

      Apart from that, Miller and Boyko looked at the issue of securing gas reserves by Neftegaz Ukrainy in order to ensure uninterrupted gas supply to Ukrainian consumers and Russia's gas transit to Ukraine.

      Gas price talks are now progressing against the background of new terms of Turkmen gas purchases for Gazprom, which it then sells to Ukraine. It leaked out on September 5, 2006, that Gazprom and Turkmenistan had agreed upon a new gas price for 2007-2009. New contracts stipulate for 50bn cubic meters of gas to be annually purchased by Gazprom at a price of $100 per 1,000 cubic meters, up from the previous price of 1,000 cubic meters. Apart from that, in Q4 2006 Gazprom proposes to buy an extra 12bn cubic meters at $100 per 1,000 cubic meters from Turkmenistan.

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