Russia to triple gas exports to Ukraine
Russia On April 2, Naftogaz transferred around $30 million to Gazprom to pay for the gas in advance. The terms of the contract stipulate that during the second quarter, Naftogaz will pay around $248 for every 1,000 cubic meters (35,315 cubic feet) on a take-or-pay basis.
The current agreement follows a June 2014 Naftogaz lawsuit in Stockholm claiming $6 billion in overpayments to Gazprom and demanding that the company provide a fair prices for gas. In order to meet winter demand and replenish dwindling supplies, Ukraine must purchase around 12 bcm (424 bcf) of gas.
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