Do More With Reuters
Partner Services

UPDATE 1-Russia to help pay for gas transit, risks remain

Thu Apr 30, 2009 2:32pm IST
 
Email | Print | | Single Page
[-] Text [+]

(Adds details, background)

MOSCOW, April 30 (Reuters) - Russia will help pay for supplying enough gas to ensure transit to European consumers via Ukraine, but supply risks have not yet been eliminated, Russia's senior energy official was quoted as saying on Thursday. "From our point of view, risks remain," Deputy Prime Minister Igor Sechin said during a meeting with European Union Energy Commissioner Andris Piebalgs, Interfax news agency reported.

"We have not yet reached guaranteed stability and we are prepared to clarify our position on this issue," Interfax quoted Sechin as saying.

"When we say there's a problem, we also propose a solution. We have even agreed to co-financing," Sechin said.

The supply of "technical gas" to Ukraine -- the gas needed to ensure transit supplies are pumped through its pipeline system -- was a major sticking point in the stand-off that led Russia to sever supplies to Europe for two weeks in January.

At the time, Ukraine said Russia should supply this gas free of charge, a demand that was rejected by Moscow.

In a sign relations might be thawing, Ukrainian Prime Minister Yulia Tymoshenko, visiting Moscow on Wednesday, welcomed Russia as a key partner in the EU-backed renewal of its gas pipeline network. [ID:nLT890120]

Moscow in turn agreed not to exact a $2 billion fine from Kiev for using less gas than agreed. Russia was angered by its omission from the pipeline overhaul plan presented by Ukraine in Brussels in March, citing its role as the main gas supplier. (Writing by Robin Paxton, Editing by Peter Blackburn)

India Investment Summit 2009
India Investment Summit 2009

Top executives and bankers discuss their own plans and the broader opportunities and challenges for India.  Full Coverage 

GLOBAL RECOVERY

A labourer works on a flyover bridge at a construction site in New Delhi October 14, 2009. REUTERS/Parth Sanyal/Files
Global economy in holding pattern - IMF

The global economy is in a holding pattern and vulnerable to more upheaval, the head of the IMF said, adding a lasting recovery will depend on policymakers taking the proper steps in the coming months.  Full Article 

Market Update

  • IndiaIndia
  • USUS
  • UKUK
  • Asia
  • Most Actives

SPECIAL REPORT

Himangshu Watts
India's food dilemma

Indian farms are failing to attract capital or talent, either from rich landlords or the students who graduate from agricultural universities.  Full Article | Related Story 

showcase

U.S. Recession
U.S. Recession

A trip through the epicenters of the American recession.  Full Coverage 

 
Central Banks Cautious
Central Banks Cautious

Reuters tracks the policies of the world's top central banks as the debate over global economic recovery rages on.   Full Coverage 

 
T P Raman
Column - RBI leads the world

Reserve Bank of India's approach ring-fenced the banking system.   Full Article 

 
Funding Blues
Funding Blues

A popular tactic used by Indian brokerages to raise money for rich clients is likely to be banned.  Full Article 

 
Not Enough Jobs
Not Enough Jobs

Venture capital creates jobs, but not enough.  Full Article 

 
Column - A Sweet Dream
Column - A Sweet Dream

There are good reasons for Ferrero to consider a combination with Cadbury.  Full Article