Economy 2022-06-15T07:24:17+03:00
Ukrainian news
National Energy Action Plan Introduced In Ukraine To Limit Gas Consumption Until March 7

National Energy Action Plan Introduced In Ukraine To Limit Gas Consumption Until March 7

Ukraine, gas, Naftogaz of Ukraine, Gazprom, national energy plan, gas consumption

Until March 7, Ukraine has introduced the national energy action plan to limit gas consumption in the country.

Minister of Energy and Coal Industry of Ukraine Ihor Nasalik said this during the hour of questions to the Cabinet of Ministers members, Ukrainian News Agency reports.

According to the minister, on March 1, First Vice Prime Minister / Economic Development and Trade Minister of Ukraine Stepan Kubiv hosted a meeting of the crisis headquarters convened in view of the refusal of the Russia's gas monopoly Gazprom to meet its contracted obligations and return of the advance payment for gas to the Naftogaz of Ukraine national joint-stock company.

He added that on March 2 morning, he had a conference call with all regional state administrations where he informed about the said action plan.

Nasalik noted that the action plan will be in force for five days until March 6 inclusive.

As Ukrainian News Agency earlier reported, on March 1, Board Chairperson of Naftogaz of Ukraine Andrii Kobolev said that Gazprom's refusal to supply gas was in violation of the contract with Naftogaz of Ukraine and the ruling by the Arbitration Institute of the Stockholm Chamber of Commerce (SCC; Sweden).

On February 28, the SCC satisfied the motion by the Naftogaz of Ukraine national joint-stock company on compensation of USD 4.63 billion for the gas short-delivered by Russia's gas monopoly Gazprom for its further transit.

Besides, the SCC rejected motion by Gazprom regarding fines for allegedly illegally withdrawn volumes of transit gas by Naftogaz.

Naftogaz also states that in compliance with results of two arbitration proceedings at the SCC, Gazprom has to pay USD 2.56 billion in favor of Naftogaz.

The press service specified that the rulings on other dispute issues would be announced later as the SCC's award on the transit contract exceeds 800 pages.

Earlier, Naftogaz had demanded that Gazprom pay USD 6.5-16 billion under the transit contract.

The effective transit contract was signed by Naftogaz and Gazprom in 2009 for the period of 10 years.

Pursuant to the contract, Gazprom has to annually transit at least 110 billion cubic meters of gas through the territory of Ukraine.

On December 22, 2017, Naftogaz announced that it won Gazprom in the gas transit dispute.

In particular, the SCC lowered the price of the gas acquired from Gazprom in the second quarter of 2014 by 27% to USD 352 per thousand cubic meters; rejected the Gazprom's motion regarding the take or pay principle.