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Russia, Ukraine Settle Gas Dispute in New 5 Year Deal

MOSCOW (Reuters) - Russia and Ukraine reached a face-saving deal on Wednesday in a bitter gas dispute which hit supplies to Europe for two days and cast doubt on Moscow's reliability as a secure supply source.

"We have reached a final agreement," Gazprom Chief Executive Alexei Miller told a news conference in Moscow after crisis talks with Ukrainian officials.

"This agreement will ensure stable supplies to Europe."

Details were sketchy, but Miller said the five-year deal was effective from January 1 and based on a price of $230 per 1,000 cubic meters of gas. That is a huge rise from the $50 Ukraine had been paying -- a holdover from subsidized Soviet-era prices.

But the head of Ukraine's Naftogaz state energy firm, Oleksiy Ivchenko, told the same news conference that -- after mixing in supplies from Turkmenistan and Kazakhstan -- Kiev would actually pay $95 per 1,000 cubic meters at its border.

Analysis - read on ...

Gazprom Cuts Gas Supplies to Ukraine ¶
Hungary-Poland Gas Disrupted ¶ Pipeline & Ecology

Fri Dec 30th, 2005 at 08:00:14 AM PST

"Treason doth never prosper: what's the reason?
For if it prosper, none dare call it treason."


'Sapere aude'

by Oui (Oui) on Wed Jan 4th, 2006 at 04:34:01 AM EST

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