Platts reports that the debt was triggered by Naftogaz having to buy in extra gas during April and May 2006 from outside Ukraine to make up a shortfall for residential customers in the country. UkrGazEnergo was set up at the start of 2006 in the wake of the Russia-Ukraine gas crisis to supply industrial consumers in Ukraine.
The chairman of the trading company, Igor Voronin, said that only $10 million of the outstanding gas debt remained to be paid. Mr Voronin also told Platts that two bcm of gas has been pumped into underground storage bunkers in Ukraine ahead of the spike in gas demand during the autumn and winter.
