Gazprom asks Naftogaz to guarantee Q1 gas purchases

Russian gas giant Gazprom will deliver 5 billion cubic meters of gas to Ukraine in the coming months on the condition that it pays off $3.1 billion in debt.

Russian gas giant Gazprom will deliver 5 billion cubic meters of gas to Ukraine in the coming months on the condition that it pays off $3.1 billion in debt.

Reuters
The heads of Gazprom and Naftogaz held talks in Moscow on Dec. 4

Gazprom has asked Ukraine's Naftogaz for a letter of guarantee for gas purchases in Q1 2016.

The Russian gas giant, which is charging Naftogaz $20 above European spot prices for gas in Q4 2015, said in a press release that it did not expect to resume gas supplies to Naftogaz this year.

But the sides intend in Q1 2016 to find a price solution to make gas supplies effective. "Naftogaz intends to ask Russia for a price discount in the first quarter of 2016. Gazprom, for its part, has asked Naftogaz for a letter of guarantee for the volume of purchases until the end of March," Gazprom said.

The heads of Gazprom and Naftogaz, Alexei Miller and Andrey Kobolev, held talks in Moscow on Dec. 4.

"In view of Naftogaz Ukrainy's difficult financial state, we do not expect prepayment and a resumption of Russian gas supplies before the end of the year," Miller was quoted as saying.

Read more: Russian gas supplies to Ukraine stop because prepayments ended>>>

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