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| Gas Deliveries; Ukraine, Europe | |
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| Tweet Topic Started: Apr 26 2014, 02:39 PM (440 Views) | |
| merlins | Apr 26 2014, 02:39 PM Post #1 |
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Republic of Zaire
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Alexey Miller Deputy Chairman of the Board of Directors Ladies and Gentlemen, Gazprom is among the largest gas suppliers in Europe and therefore we are deeply worried about the continuous instability in Ukraine. Seeing that the Ukrainian leadership is facing immense financial problems that manifest themselves in the fact that Kiev is not able to meet its financial commitments, namely regular payments for gas that has been supplied, Gazprom was forced to contemplate an advanced payment scheme. Nevertheless, we are willing to engage in negotiations with our European customers to find a solution for the crisis as we find ourselves in a very complicated situation. On the one had, Gazprom is not a welfare organization and we cannot deliver gas for nothing - contractual obligation are binding for both sides; on the other hand - Gazprom has always been a reliable supplier of energy to our European customers and we want to maintain this reputation. We want to avoid a situation that our main European customers are becoming hostages to the developments in Ukraine. We are talking here about unpaid gas deliveries worth at least 2.2 billion USD. While previously we encountered partial or delayed payments for delivered has, over the last weeks the Ukrainian authorities have not been able to pay a single cent to cover their bills. As it is common practice for all delayed payments in Europe, Gazprom is calculating also delayed payment fines, thus the total amount of money owned by Ukraine could be considerably larger. At this point, we would like to discuss the financial situation in Ukraine and means to enable Ukraine to pay its debts and allow it to pay for gas it requires for its industry and people. We are aware of the fact that the European Union is contemplating a massive financial support program for Kiev and some media outlets had reported that the EU might look into the possibility of covering Ukraine's gas bill. An acceptable solution for us, should this indeed be an option on the table. We do not care who pays, we are interested in the full fulfillment of contractual obligations. However, should we face a situation that we are not able to find a solution and an advanced payment scheme would be required, we fear that this might have negative consequences on our contractual obligations towards our European customers. We do not control the gas pipeline network in Ukraine and we have in the past already experienced problems, for example, gas foreseen for the European market has been illegally diverted for Ukrainian needs. I am here referring to the situation in 2006 and 2009. In case of such event, we are almost confident that we would be able to meet our contractual obligations towards the Baltic States, Poland and Germany using existing gas networks, for example, through Belarus or the North Stream Pipeline. Our South European customers are, unfortunately, in a less favorable situation as most supplies go through Ukraine and the alternative/additional South Stream route is not yet finished. But we are looking into the matter as we speak, so that we have a contingency plan, should it become necessary. We do not want to encounter a situation where - forced by external and uncontrollable factors - we are not able to fulfill our contractual obligations. With that said, I yield the floor and hope for a fruitful discussion. |
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| Ndovlu | Apr 26 2014, 03:29 PM Post #2 |
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![]() Mrs. Natalia Snegur-Gherman Minister of Foreign Affairs and European Integration Without the Russian gas, the Republic of Moldova would be seriously hurt. Our homes need it and an eventual cut won't be tolerated by our government. After the contruction of the Iasi-Ungheni pipeline, our nation reduced its dependence on Russia but it still beign not enough for covering all our demand. This one gives us one third of our total demand, the other two parts came from the Ukrainan pipeline. My nation is a not member of the European Union nor the NATO. Any sanction taken by your government against us would be considered as an attack to our sovereignity, Mr. Miller. We paid until the last ruble for that and I think the Moldovans won't tolerate any other threat from Moscow, so please, we tried to reduce our differences in an attempt to solve the wine issue, don't cause more troubles by cutting our gas supplies. |
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| merlins | Apr 26 2014, 03:41 PM Post #3 |
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Republic of Zaire
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Alexey Miller Deputy Chairman of the Board of Directors Minister Snegur-Gherman, I am not a politician and therefore would like to refrain from commenting any issues regarding your national foreign policy course, however, I must explicitly state that these are not sanctions we are talking about, but a situation where the main transit country is not able and/or willing to pay for the gas it requires for its economy. As said, we are not a welfare organization and unpaid gas deliveries or bills that are paid too late or not fully paid are simply not an option. Therefore we want to avoid a situation that the inability of Ukraine to pay for its gas would come at the expense of other customers who, like Moldova, have been able to meet their financial obligations towards Gazprom for gas deliveries. Furthermore, admittedly, I was referring to a worst-case scenario and I believe that we will be able to avoid such a situation. |
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| merlins | Apr 29 2014, 03:21 AM Post #4 |
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Republic of Zaire
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Alexey Miller Deputy Chairman of the Board of Directors Gazprom I would like to use the opportunity to emphasize the urgency of the matter at hand. We have neither heard back from the Ukrainian authorities on the matter of debt in regards to gas deliveries and their ability to pay for ongoing gas deliveries, nor from our European customers. |
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| Jos1311 | Apr 29 2014, 07:35 AM Post #5 |
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Head Admin
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Europe urgently needs to respond to this! |
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| Redbirdfan | May 2 2014, 05:13 AM Post #6 |
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Bundesrepublik Deutschland
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Understandably, Kyiv is having a hard time finding the funding to pay this for numerous reasons. Moscow has more than doubled the required amount of money they are asking for. We are also losing money and income to the government from the unrest being staged by Moscow in the East. We are desperately trying to find a way, but our funds are being squeezed. In an effort to find the funds to pay Gazprom, we have halted water supply to Crimea. We have lowered it from 16 cu/m a second to just under 5 cu/m a second because of a two year lateness on Crimeas account to pay their bill. To continuously find this while not receiving payment further drains us and the money that they are late on would help pay the larger bill Gazprom is looking for. |
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| merlins | May 3 2014, 01:33 AM Post #7 |
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Republic of Zaire
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Alexey Miller Deputy Chairman of the Board of Directors Gazprom As I have said before, I am no politician, however, as far as I can tell, the argumentation that the Crimean water supply would solve the financial situation of Ukraine to allow it to pay for gas is most unlikely. I have been told that the Crimean authorities have approached the Ukrainian Government to arrange further water delivery agreements, but have been met with silence from Kiev. The Crimean authorities had planned to arrange another agreement, despite the fact that the water delivery issues had been solved for the year 2015, meaning they were willing to pay another time. What i have not yet heard from the Ukrainian authorities is a solution to the gas payment issue. Claims that Gazprom would have doubled gas prices to Ukraine is false, however, fact is, gas prices had been increased by a $70 due to the cancellation of treaties in regards to the Crimean peninsula due to its inclusion into the Russian Federation. |
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| merlins | May 3 2014, 05:12 PM Post #8 |
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Republic of Zaire
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Alexey Miller Deputy Chairman of the Board of Directors Gazprom As per Presidential decree, Gazprom has been ordered to introduce an advanced payment scheme from June 15th if there is no agreement on how do address the gas payment and debt issue. Furthermore, it has been made clear by the Presidential administration that the agreement allowing a 30% discount on gas deliveries to Ukraine would be cancelled should Gazprom be forced to switch to an advanced payment scheme for Ukraine. |
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| Eryk | May 3 2014, 06:05 PM Post #9 |
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СССР
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Dyrektor finanowy PGNiG l Chief Financial Officer of PGNiG Poland expects that Gazprom will meet the obligations it has undertaken in the 2010 supply contract signed between PGNiG and Gazprom. As the Deputy Chairman has so eloquently repeatedly highlighted, we are not politicians here. As such, it is PGNiG's paramount concern to maintain a sustainable supply of natural gas to Polish citizens, businesses, and industries, without interruption. Thus whatever the situation in Ukraine, we would anticipate that Russia would take appropriate measures to ensure such a supply is maintained. If this dispute reaches similar proportions to the one witnessed in 2008-2009, we will utilize appropriate legal measures to seek restitution from Gazprom and seek a renegotiation of the current supply contract on other terms, in order to ensure that Russia can maintain such terms regardless of any future international crises. |
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| merlins | May 4 2014, 01:15 PM Post #10 |
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Republic of Zaire
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Alexey Miller Deputy Chairman of the Board of Directors Gazprom As an energy supplier Gazprom is dependent on foreign owned pipeline system, in this particular case - Ukraine. Considering that almost 80% of our gas deliveries go through the pipeline system in Ukraine, we are dependent on the ability of the Ukrainian Government to keep up its end of the bargain and ensure safe passage of gas that has been destined for customers in Europe, including Poland. Given the financial hardships in Kiev, we are worried that in case of the implementation of an advanced payment system we will see the same developments as during the crisis years in 2006 and 2009 when then Prime Minister Yulia Tymoshenko stole gas that was destined for our Western customers. At the end of the day, we want to be sure that we will get paid for the services we are providing to Ukraine and ensure that we can meet the commitments we have undertaken in regards to our Western customers. It should be made clear that President Putin while granting the extension of the deadline did not hint to even a remote chance of another extension. We are operating under the assumption that Ukraine will see an advanced payment scheme and the removal of all discounts by mid-June if no solution is found. |
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