42 Views

Ukraine switches power plants to fuel oil, closes schools to save gas

© Reuters.  Ukraine switches power plants to fuel oil, closes schools to save gas© Reuters. Ukraine switches power plants to fuel oil, closes schools to save gas

KIEV (Reuters) – Ukraine has switched power plants to fuel oil from gas in an effort to make up for an emergency shortage after Russian company Gazprom (MM:GAZP) declined to resume gas supplies to the country, Energy Minister Ihor Nasalyk said on Friday.

The shortfall comes at a time of peak demand after a Europe-wide cold snap blanketed most of Ukraine with heavy snow and pushed temperatures well below freezing.

Nasalyk told parliament the lack of Russian supplies had created a deficit of up to 20 million cubic meters (mcm) of gas per day. Thermal power plants switching to fuel oil could save around 15 million mcm a day, he said.

The Energy Ministry also asked local authorities to suspend lessons at schools, universities and kindergartens until March 6.

The gas shortage equates to one tenth of Ukraine’s daily consumption of around 200 mcm.

On Thursday, Gazprom said it had returned a prepayment to Ukraine and would not restart gas supplies as an additional agreement to the existing arrangements had not yet been reached. Ukraine said it would seek compensation.

The row represents a new front in a long-running legal battle, a by-product of broader political tension following Russia’s annexation of Crimea in 2014 and support for separatists in eastern Ukraine.

It follows Wednesday’s international arbitration court order for Gazprom to pay $2.56 billion to Ukraine’s Naftogaz after weighing mutual claims and counter-claims related to gas supplies and transit.

The decision was welcomed in Ukraine as a major win for Naftogaz. Gazprom has said it will contest the ruling.

sponsoredArticle = ‘div-gpt-ad-1466339494851-0’;

Get the best viral stories straight into your inbox!

Don't worry, we don't spam

Latest Posts

Factbox: Trump on Twitter (February 7) – Korea, FBI, Budget
Politics
119 views
Politics
119 views

Factbox: Trump on Twitter (February 7) – Korea, FBI, Budget

WPUser - March 2, 2018

© Reuters. U.S. President Trump delivers speech after touring Sheffer Corporation in Blue Ash, Ohio The following statements were posted to the verified Twitter accounts of U.S. President…

Economics
111 views

President Trump’s Economic Policies Show He’s Still “King of Debt”

WPUser - March 2, 2018

Investing.com - President Trump proudly considered himself the "king of debt" during his days as a businessman, and he has already earned that moniker as president. The…

White House senior aide to resign following abuse charges
Politics
97 views
Politics
97 views

White House senior aide to resign following abuse charges

WPUser - March 2, 2018

© Reuters. FILE PHOTO: Porter hands document to Trump during signing ceremony in the Oval Office in Washington WASHINGTON (Reuters) - U.S. White House staff secretary Rob…

Russia set for rating review by S&P, Fitch, upgrade in prospect
Economics
100 views
Economics
100 views

Russia set for rating review by S&P, Fitch, upgrade in prospect

WPUser - March 2, 2018

© Reuters. View shows Russian rouble coins and banknote By Andrey Ostroukh MOSCOW (Reuters) - Russia may get a long-awaited upgrade to its sovereign ratings this week…

U.S. senators express optimism about NAFTA after Trump meeting
Politics
107 views
Politics
107 views

U.S. senators express optimism about NAFTA after Trump meeting

WPUser - March 2, 2018

© Reuters. Senator Orrin Hatch (R-UT) arrives for a vote after the Senate reached an agreement to end the shut down of the federal government on Capitol…

Global regulators neutral on new rules for ‘hyped’ fintech
Economics
113 views
Economics
113 views

Global regulators neutral on new rules for ‘hyped’ fintech

WPUser - March 2, 2018

© Reuters. Global regulators neutral on new rules for 'hyped' fintech By Huw Jones LONDON (Reuters) - Global banking regulators signaled on Monday they were in no…

Sharp increase in reports of sexual assault at elite U.S. Army academy
Politics
118 views
Politics
118 views

Sharp increase in reports of sexual assault at elite U.S. Army academy

WPUser - March 2, 2018

© Reuters. Sharp increase in reports of sexual assault at elite U.S. Army academy WASHINGTON (Reuters) - There was a sharp rise in reports of sexual assault…

Fourth tranche of aid to Greece should be decided on Monday: France
Economics
112 views
Economics
112 views

Fourth tranche of aid to Greece should be decided on Monday: France

WPUser - March 2, 2018

© Reuters. French Finance Minister Bruno Le Maire attends a conference on "Transforming France’s Economy and Completing the Integration of the Eurozone" in Paris BRUSSELS (Reuters) -…

Senate panel sets confirmation hearing for four FTC nominees
Politics
123 views
Politics
123 views

Senate panel sets confirmation hearing for four FTC nominees

WPUser - March 2, 2018

© Reuters. The Federal Trade Commission building is seen in Washington By Diane Bartz WASHINGTON (Reuters) - The U.S. Senate Commerce Committee set confirmation hearings next week…

Australia says open to UK joining Pacific trade group after Brexit
Economics
84 views
Economics
84 views

Australia says open to UK joining Pacific trade group after Brexit

WPUser - March 2, 2018

© Reuters. Australian Foreign Minister Bishop addresses the 72nd United Nations General Assembly at U.N. headquarters in New York By Andy Bruce LONDON (Reuters) - Australia said…