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eBay bidding war for Russian gas: Price jumps from $1 to $1,200,000

Published time: June 13, 2014 20:15
Edited time: June 14, 2014 11:25
Screen from www.ebay.com

Screen from www.ebay.com

Moscow may soon be cutting gas supplies to Ukraine? No worries. Now Kiev – or anyone else – can buy Russian gas on eBay. An enthusiast started an auction at the price of just $1 per 1,000 cubic meters. That price has since jumped to over $1,200,000.

The auction of “piping hot” Russian natural gas, which started late on Thursday, has gained extreme popularity in just 24 hours, as eager bidders are continuing to raise the price. So far there have been 85 bids.

In the description of the gas, the seller urges people to buy the product, saying that the price is even suitable for Ukraine – which has been in the international spotlight for months due to Kiev’s protracted dissatisfaction with Russia’s tariffs.

“Such a low price that suits even the Ukraine!,” the description playfully reads.

Well, Ukraine, hurry! Make your bid! The demand is still rising and the price is still growing. The starting bid was set at $1, but has reached $1,200,000 in 24 hours.

The seller urges countries with “economies in crisis” to participate and bid “so you can save even more.”

“Buy Russian natural gas today and provide energy their (sic) little European country to stay warm during long winter evenings.”

Of course bidders should be aware of the shipping costs, which will “depend on the cost of construction of the pipeline to your country.”

The sarcastic auctioneer even attempted to guarantee delivery, despite the troubled situation: “If you do not receive the gas within 30 days, it is possible to cause unauthorized actions of Ukraine. Contact us and we will apply all the necessary sanctions.”

The auction started right after Gazprom CEO Aleksey Miller said the company would not postpone Ukraine’s gas payment deadline set for Monday, adding that the gas supplies will be cut off if Kiev fails to pay.

“If nothing has been paid, nothing will be supplied," Miller said.

Ukraine’s gas debt currently exceeds $4 billion. Ukraine’s Naftogaz is to pay $1.454 billion for gas supplies it received in November and December last year. It must also show progress in paying its April and May debt on Monday, according to Gazprom.

Russia, Ukraine, and the EU have been engaged in trilateral talks in recent months. During the talks, Moscow agreed to give Kiev a discount, at the price of $385 per thousand cubic meters. However, Ukraine is still unsatisfied with the price and wants it lowered to $268.50 per thousand cubic meters. On Friday, Prime Minister Arseny Yatsenyuk warned that following the deadlock in the gas talks, Kiev will be cutting off Russia’s imports starting Monday.

Comments (16)

 

Albert John Russell 15.06.2014 00:29

Looks like usa wants the eu beholding to the fed banksters gas cartel. Attempt to squeeze out ru....Last ditch effort to keep dollar from its demise....

 

John Smith 14.06.2014 20:12

Russia has a very poor feedback score on Ebay. It seems that they never follow the rules, and even stole a few items, including a peninsula

 

3150dixi 14.06.2014 09:03

Thor Corps 14.06.2014 02:20

European Commission head Jose Manuel Barroso made the offer in a telephone call with President Putin on Friday.

EU officials said the move was "significant&am p;amp;qu ot; and reflected a "new climate" in the negotiations.
Bu t a European Commission statement said that it had offered Mr Putin the chance to hold "political level" discussions "as a way to dispel any concerns" that Russia had.


M eanwhile, the US says it is confident that tanks being used by separatists in eastern Ukraine came from Russia.

  


The USA says many rubbish things. None of them are true!

View all comments (16)
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