Geruststellende woorden van Kiev over nieuwe problemen rond gasleveranties (en)

EUOBSERVER / BRUSSELS - A fresh alert by Ukrainian state-owned gas firm Naftogaz over problems paying its Russian supplier should not worry the EU, Ukraine says. But some analysts warn the situation could get worse.

"Naftogaz annouces that the case as regards paying Gazprom could worsen because of the catastrophic rise in debts of regional utility companies," the Ukrainian firm said in a statement on Thursday (18 February).

The alert comes less than one month after a Naftogaz-Gazprom price dispute saw Russia stop supplies to EU transit state Ukraine, causing the worst energy crisis in EU history.

"This is not related to implementation of the new contract with Russia. We have paid for the whole gas supply of January and we will do it in February," Ukraine deputy foreign minister Konstantin Yeliseyev told EUobserver.

"This is just a signal to the regional governors of Ukraine to make full payment, on time, of their respective obligations."

The Naftogaz cash-flow problem dates back to before 2009. Ukrainian industrial clients and regional authorities, responsible for collecting payments from household users have a poor track record in settling bills with the state distributor.

"They still live with a Soviet mentality, that the state should supply everything," a Ukrainian official said.

The terms of a new Naftogaz-Gazprom contract and the severe economic downturn in Ukraine are making it harder for Naftogaz to balance its books, however.

Under the January contract, Naftogaz is now paying around $360 per thousand cubic metres of Russian gas compared to $180 last year. It has also agreed to buy set volumes each month, even if Ukrainian consumption goes down.

Meanwhile, Ukraine industrial production has plunged 34 percent compared to 2008. The value of the hryvna - in which Naftogaz collects all its income - has fallen by 40 percent against the dollar and bank analysts worry that the Ukrainian state itself may default on its debts.

"It's good that there is an early warning to Gazprom but it's not clear what the solution could be," HSBC bank's chief economist for Russia and former Soviet countries, Alexander Morozov, told this website. "If there is a sovereign debt default, the national bank might not provide help for Naftgaz to pay its foreign debts."

The European Commission has kept around six gas pipeline monitors in place in Russia and Ukraine in case there is a repetition of the January scenario, when Russia reduced Ukrainian gas flows and accused it of stealing EU-bound gas.

"We are aware of the financial problems that have impacted Ukraine, and the rest of the world," commission energy spokesman Ferran Tarradelas Espuny said. "But we expect Ukraine to honour the agreement that was made with Russian gas suppliers in January."