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    January 14, 2016

    Ukraine Forbidden From Buying Cheaper Gas by EU

    Translated by Ollie Richardson for Fort Russ
    14th January, 2016

    "Naftogaz of Ukraine" is no longer an independent organization and is not able to buy cheaper gas. This was stated at a press conference in Kiev by the co-chair of the Energy Strategies Foundation Dmytro Marunich.  The expert is sure that soon Ukraine will resume gas imports as current stocks for the winter are not enough. At the same time, Ukraine buys cheap gas provided by Russia.

    Marunych stressed that Naftogaz cannot buy gas wherever it wants. The reason is that they "obtained a loan from the EBRD in the last year, and received the money conditionally. This is the second promise of the International Finance Corporation, which cumulatively, adds up to about 500 million dollars. But there is a condition: buy gas only in reverse. Therefore, even if a different supplier (Gazprom or whoever) suggested that gas is cheaper, buying it would be simply impossible".

    The expert explained the origins of the situation. Now, given the state of the economy, the decisions of the current Kiev authorities are "dictated from you know where". The company "Naftogaz" can no longer make its own decisions. "We will buy gas as indicated by Western creditors, even if the price is higher."

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    Item Reviewed: Ukraine Forbidden From Buying Cheaper Gas by EU Rating: 5 Reviewed By: Ollie Richardson
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