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Russia to Resume Gas Supplies to Ukraine from October 12

Gas deliveries to Ukraine will resume on Monday, Russia’s Gazprom CEO Aleksey Miller said, adding that an advance payment for this month’s gas will be made by Kiev on Friday, October 9.

Russian gas will be pumped into Ukraine’s underground storage facilities. Ukraine has already accumulated 15.7 bcm of gas, but experts say it will need at least 19 bcm for the coming winter. Last month, the two sides finally agreed on terms for gas supplies after several months of negotiations. Moscow and Kiev couldn’t find a compromise with price the key stumbling block.

Kiev will pay a reduced price of $232 (€207) per thousand cubic meters during the period covered by the agreement (October – March). Earlier, Ukraine was paying $252 per thousand cubic meters. The EU has agreed to allocate $500 million to Ukraine’s Naftogaz to ensure gas stores of 2 billion cubic meters for the winter season. But Gazprom has warned that Ukraine may run out of gas before winter ends.