Naftogas wants to be allowed to pay Gazprom later than in 90 days after shipment

​The Ministry of Energy and Coal Industry of the Ukraine suggests the Cabinet of Ministers allowing NAK Naftogas Ukrainy to pay for the supplies to Gazprom for the supply and transit of natural gas not later than in 90 days, is said in the draft law worked out by the Ministry of Energy.

The explanatory note to the draft law says that on February 1-18th 2015 Gazprom shipped 489.9 mln cubic m of prepaid gas. However, starting from February 19th Gazprom unilaterally decided to ship gas to the territory not controlled by the Ukraine’s Government via the “Prokhorovo” and “Platovo” gas distribution stations.

Such supplies can’t be accepted and registered by Naftogas. By the foreign currency legislation of the Ukraine the payments by the export and import of goods are made within 90 days.

As Naftogas can’t confirm the volume and gas price shipped by Gazprom via the “Prokhorovo” and “Platovo” gas distribution stations and make payments within the stipulated by the law period, sanctions can be applied to Naftogas for violation of payments in foreign currency.