Russia & Ukraine Head Towards Third Gas War

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  • Ukraine rejected Russia’s gas price of $485 per 1,000 m3 saying that it will continue to buy at last year’s price of $268, threatening to take Russia to the Stockholm arbitration court if talks fail, it also said it would try to replace its Russian supplies with gas purchases in Europe.
  • Acting under the Russian govt’s approval, its state gas monopoly Gazprom refused discount claiming Ukraine had run up a debt of $2.2 billion for gas deliveries. Gazprom chief also notified EU energy commissioner that uninterrupted supplies to Europe in winter is subject to filling up of Ukraine’s gas storage facilities during spring and summer.  
  • Europe receives 30% of its gas from Russia, of which more than 70 billion cubic metres, is piped through Ukraine. It was left freezing in the winters of 2006 and 2009 when Kiev siphoned off Europe-bound Russian gas after Russia cut deliveries to Ukraine.

Exams Perspective:

  1. Gas wars
  2. Ukraine crisis
  3. Stockholm arbitration court

 

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