Naftogaz Says It Paid Gazprom in Full and On Time for February Gas

Naftogaz Ukrainy has said that it has paid its debt in full and on time for gas delivered to it by Gazprom in February, after a tense month between the two companies.

Naftogaz says that it paid around $1.3 billion (USD) for its imports of gas last month from the Russian company at the agreed costs under its gas sale contract with Gazprom. The calculated price includes a $100 discount given to Naftogaz by Gazprom in April 2010, leaving the cost per 1,000 cubic metres of gas at $416 for the first quarter of 2012.

"Naftogaz Ukrainy fulfills its obligations to Gazprom every month on time to pay for imported natural gas," a statement for Naftogaz said.

The statement made no referral to any extra gas taken by Naftogaz last month to deal with an unseasonably cold period, during which Gazprom alleged Ukraine had siphoned more than its fair share of gas, leaving other European customers short.

Naftogaz denied the allegations saying it had only taken what was agreed contractually for that month and alleging that the shortfall had come on Gazprom's end, which it said had never sent the disputed gas volumes through the pipeline.