JKX in 2005

Ukraine Says It Has Enough Gas For Winter

26 December 2005 -- Ukraine's reserves of gas at underground storage facilities are sufficient to last the country throughout this winter.

The announcement was made today by the board chairman of the state-owned natural-gas company Naftohaz Ukrayiny, Aleksei Ivchenko.

But Ivchenko also urged the population to save energy.

Ukraine has 13 underground storage facilities, whose capacity exceeds 30 billion cubic meters.

Ivchenko's comments came one day after a top Gazprom official, Aleksandr Medvedev, said the Russian gas monopoly will stop supplying gas to Ukraine on 1 January if a dispute over prices is not settled until then.

Gazprom wants to hike the price for 1,000 cubic meters from under $50 to $230 in line with international prices.

But Ukrainian leaders say Russia wants to punish them for the country's pro-Western stance.