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IDS World Markets Jan 2 2006

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Gazprom halts gas shipments to Ukraine






MOSCOW Russia cut gas supplies to Ukraine on Sunday in a dispute that appeared to hit deliveries to a wintry Europe just as Moscow takes over as chairman of the Group of Eight hoping to showcase its reliability as an energy source.


The Russian state monopoly, Gazprom, said it had cut supplies to Ukraine by a quarter -- the level of Ukraine's own imports -- after Kiev refused to sign a new contract requiring it to pay four times as much.


In the first sign that the switch-off was having an effect farther west, Hungary's gas wholesaler MOL said the pipeline pressure of its Russian supply had fallen 5 percent.


Western Europe imports 25 percent of its gas from Russia and most of that is delivered by pipelines running across Ukraine. The European Union said it did not expect shortages but was concerned by the standoff.


for more read International Herald Tribune


Gazprom weekly log chart (listed in Frankfurt)


very nice channels



Chart ?ffnen

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Nice to see a few die hards still here.

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Got gas? :(


Gas for immediate delivery on the electronic APX Gas Exchange rose 11 percent, taking its two-day increase to 19 percent. The price advanced to 72 pence per therm at 4:15 p.m. London time and is equal to about $12.41 per million British thermal units at today's exchange rate, according to Bloomberg data. A therm is 100,000 British thermal units.



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