Russia's refusal to pump gas through Ukraine will change the balance in Europe, which will have a negative impact on the energy security of Europe, said European Commission Vice President for Energy Union Maros Sefcovic.
Ukrainian Finance Minister Natalie Jaresko announced that Kiev will be lowering its natural resource royalty taxes to spur business. The move comes following complaints from investors that the 55 percent rate introduced last year was too high.
Hundreds have rallied in Tel Aviv to protest over a proposed gas deal with the United States pushed by the government, which critics say may create a monopoly that will control two of Israel’s largest natural gas reserves.
Ukraine has hardly any currency reserves left and the government is playing hardball towards Russia counting every penny in a deal they apparently can’t afford, Ben Aris, chief editor of Business New Europe, told RT.
Gazprom has confirmed the suspension of gas supplies to Ukraine from 10:00am MSK on July 1. Russia’s gas monopoly will not supply gas to Kiev without prepayment, no matter what price, said company CEO Aleksey Miller on Wednesday.
So much methane leaks from oil and gas production on federal and tribal lands in the United States that any environmental benefits gained from natural gas use are cancelled out. It also costs US taxpayers tens of millions of dollars in royalties.
For the next three months, Ukraine will pay $247 per 1,000 cubic meters for Russian gas, said Prime Minister Dmitry Medvedev a day before the so-called ‘summer gas package’ for the second quarter expires.