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Russia and Ukraine sign natgas deal

October 31, 2014

Russia (Gazprom) and Ukraine signed a natural gas supply agreement, with the EU/IMF apparently a party to the deal.

This includes ~$1.5 B worth of natgas supplies thru March 2015, cash upfront. Part of the deal is an agreement by Ukraine to repay $3.1 B of its unpaid bills to gazprom by the end of this year. EU and IMF are providing financing for Ukraine, which is broke after everything that happened this year. Price was $365-$378 / 1000 m^3, which was a sort-of a compromise between Ukraine’s old discount and the “full” list price Gazprom asked for after Ukraine turned hostile.

Reuters: http://www.reuters.com/article/2014/10/31/us-ukraine-crisis-gas-idUSKBN0II0XQ20141031

RT: http://rt.com/business/200951-gas-russia-ukraine-deal/

New York Times: http://www.nytimes.com/2014/10/31/business/international/ukraine-and-russia-reach-deal-on-natural-gas-supplies.html?_r=0

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