Ukraine reduced gas imports by 25% in 2018

Ukraine imported 10.59 million cubic meters of gas in 2018. This is 24.6% or 3.46 billion cubic meters less than 2017 when gas supplies exceeded 14 billion cubic meters, according to the data of gas transmission company, Ukrtransgaz. 

In 2018, gas was imported solely from Europe because gas supplies from Russia had been suspended since November 25, 2015 when Naftogaz found Russian Gazprom’s prices unreasonably high. In 2018 Ukraine imported 6.4 billion cubic meters of gas from Slovakia, 3.4 billion cubic meters from Hungary and 695 million cubic meters from Poland. 

The refusal to buy Russian gas allowed Ukraine to start reforming the gas market and corporative management of Naftogaz. The company had found itself unable to make a profit for the first time in years. 

On December 22, 2017, the Arbitration Institute of the Stockholm Chamber of Commerce decided that Naftogaz must resume buying at least 5 billion cubic meters of Russian gas until the end of the contract. 

In late February 2018, Naftogaz made an advance payment for March expecting to resume gas supplies from Russia, but Gazprom refunded the money and sent Naftogaz a notice on the termination of the gas supply and transit contract.

 

  Ukraine, Ukrtransgaz, Gazprom, Russia, Stockholm Arbitration Court

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