ITAR-TASS Russian news agency quoted Ukrainian Energy and Coal Industry Minister Vladimir Demchishin as saying to a television channel: "On Friday, we paid Gazprom for one billion cubic metres of gas and will start to withdraw gas from Monday."
As of 1 December, gas reserves in Ukrainian dropped to 17% to 13.9 billion cubic meters, according to data from state-run gas transport monopoly Ukrtransgaz.
As per the terms of an agreement signed between Ukraine’s Naftogaz and Gazprom in October, Ukraine will receive gas from Russia within 48 hours from when Gazprom secures the amount, reports Reuters.
Russia has also agreed for a $4.6bn winter package, which is effective until the end of March 2015. As part of this package, Russia will supply gas to Ukraine and Europe. Ukraine can also pay its debts based on a preliminary price of $268.5/1000m3 in two tranches – $1.45bn without delay, and $1.65bn by the end of 2014.
The package also lets Ukraine to order as much as gas it requires.
Ukraine is seeking to purchase 4 bcm until the end of the year 2014 for less than $385/1000m3.
