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13

Gazprom: What Is Lost , Is Lost For Good

Russia's natural gas giant Gazprom decided to leave stolen gas in Ukraine as its 2005 transit fee payments

Russia?s natural gas giant Gazprom and Ukraine?s oil and gas firm Naftogaz said they settled a dispute over 8 billion cubic meters of natural gas.

The dispute was about Ukraine?s overdue payments Gazprom?s gas which was stored in Ukraine, and being stolen by Ukraine after all.

The Russian monopoly also accused its Ukrainian counterpart of damaging the stability of its supplies in Europe, what was denied by Ukraine.

Last month Gazprom announced the disappearance of 7.8 billion cubic meters of gas and said it was unilaterally deducting the volume from fees it pays Ukraine in the form of gas for transit of supplies to European customers.

Now the parties have come to a solution: nearly one-third of the gas (2.55 mcm) would be transferred to Naftogaz as part of Gazprom?s 2005 transit fee payments.