gas market

Gazprom may lose Ukrainian market - Yatseniuk


Ukraine reduced the share of Russian gas in overall storage by 33% for the first time in history in December 2014 and is capable of reducing it further, up to and including stopping imports of Russian gas if Russia continues the current policy of gas threats, Ukrainian Prime Minister Arseniy Yatseniuk said.

"If [the Russians] keep on behaving the way they are behaving, they will lose the Ukrainian market. Therefore, we are asking the Russians to be very balanced in any statements, as the situation on the global market of energy resources has changed radically," Yatseniuk said in opening a government meeting in Kyiv on Wednesday.

Ukraine is not asking for a discount but suggests that a market-based approach be taken in gas relations between the two countries, he said.

In commenting on reciprocal financial claims between Naftogaz and Gazprom, Yatseniuk pointed out that this dispute is to be resolved by the Arbitration Institute of the Stockholm Chamber of Commerce, considering that Naftogaz is seeking the recovery of $6 billion from Gazprom.

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