Ukraine Energy Minister Yury Prodan says the EU has been asked to start pumping 30 billion cubic meters of gas using reverse flow from Slovakia. Russia has cut supplies to Ukraine until it pays its gas bill; meanwhile Kiev is seeing alternate supplies.
“For Ukraine, signing the agreement is economic suicide,” Sergey Glazyev, an economic aide to Russian President Putin said, warning of a sharp currency devaluation, soaring inflation, and lower living standards.
Russia and Austria have agreed on a joint company to construct the Austrian arm of the $45 billion South Stream gas pipeline project, which is expected to deliver 32 billion cubic meters of Russian gas to the country, bypassing Ukraine.
Russia has twice the number of women in senior management positions than the US or Western Europe. A new report puts it down to a gender ratio that favors women by 6:5 and the previous influence of communism where women were actively promoted.
Russia’s gas export monopoly Gazprom has listed on the Singapore stock exchange. The move is seen as a way for the company to become more transparent to Asian investors, which has become especially important after the $400 bn gas deal with CNPC.
Ukrainian Prime Minster Arseny Yatsenyuk has ordered Energy and Coal ministries, regional governments, and Naftogaz to get ready for Russian gas supplies to be cut starting Monday, the cabinet’s website said.
Russia has offered Ukraine a final gas price of $385 per 1,000 cubic meters, and if Kiev continues to ask for a lower price, rapport between the two countries will fall apart, Russian President Vladimir Putin said Wednesday.
Gazprom will not be introducing a gas pre-payment method for Kiev on Wednesday after Ukraine missed the June 10 deadline to repay its debt. The deadline has been extended to June 16, Gazprom CEO Aleksey Miller said.