Gazprom has provided today a notification to its European partners on current problems of gas supply to Ukraine. The Russian side completely executes the contract. At the same time Ukraine’s debt for gas delivered exceeds US $1.3 bln.

Gazprom has been constantly raising a question on speedy debt payment for gas supplied. However, there are no any real actions to be going on. Taking into consideration the forthcoming fall/winter gas consumption peak and systematic failure to fulfill the effective contracts by the Ukrainian side, Gazprom would be obliged to start reducing natural gas supply to Ukraine’s consumers in case of debt non-payment in October.

2007 gas price for Ukraine was coordinated embracing financial solvency of the country’s national economy. Ukraine is ready for market gas pricing.

Gazprom believes that its Ukrainian counterparts will settle the dept problem in a constructive way. The Company will endeavor best efforts to fully perform its liabilities in relation to the export contracts.