Ukraine Natural Gas Price Risk Premium Remains for Europe - Bloomberg:
"The European Union still faces the threat of natural gas disruptions this winter after helping forge a draft deal to settle a debt dispute between Russia and Ukraine, which carries about 15 percent of the bloc’s gas needs.
The premium of U.K. winter gas over the day-ahead contract widened 3.1 percent yesterday, its biggest increase in more than 10 days in a sign that supply concerns remain, broker data compiled by Bloomberg show. The risk of transit interruption, as in previous disputes between the eastern European nations in 2006 and 2009, persists as long as no definite agreement is signed between the parties, according to Societe Generale SA.
Ukraine’s state energy company NAK Naftogaz Ukrainy would pay Russia’s OAO Gazprom (GAZP) $2 billion by May 30 and a further $500 million by June 7, the European Commission, the 28-nation bloc’s regulatory arm, said May 26 after talks between the three parties. Ukraine will give its answer on the commission’s proposal today, Energy Minister Yuri Prodan said."
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