Gazprom delays onset of prepayment regime for Ukraine by one week

Gazprom confirmed on Monday receipt of the first tranche of Naftogaz Ukrainy's payment for gas equal to $786 million.

Gazprom confirmed on Monday receipt of the first tranche of Naftogaz Ukrainy's payment for gas equal to $786 million.

"We welcome the start to repayment by Ukraine and reschedule the prepayment regime for June 9," Gazprom CEO Alexei Miller told journalists.

"Introduction of the prepayment regime will depend on repayment of the debt for gas delivered prior to April 1 totaling $2.237 billion, a portion of which was paid today, and from progress in payment for deliveries in April and May. Payment for May must be made before June 9," Miller said.

Ukraine is contesting the remaining debt for gas delivered in November-December 2013 - $1.451 billion - which was priced above $400 per 1,000 cubic meters, as it is the bill for deliveries made since April 1 at a price of $485.5 per 1,000 cubic meters.

Ukraine owes $2.9 billion for deliveries in April and May at $485.5 per 1,000 cubic meters, including $1.72 billion for May.

All rights reserved by Rossiyskaya Gazeta.

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