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Putin told Gazprom to accept Ukraine debt at $268/Mcm

Russian President Vladimir Putin has said he pressured Gazprom into agreeing to accept Ukrainian gas debt based on the minimum price of $268/Mcm.
By Alexey Novikov, Olga Dedyaeva and Tom Washington 27 October 2014 Europe & Russia / Supply & Demand 0 14053

Russian President Vladimir Putin has said he pressured Gazprom into agreeing to accept Ukrainian gas debt based on the minimum price of $268 per thousand cubic metres (Mcm: $7.29/MMBtu).

“I had to turn the heat up on Gazprom and ask it not to insist on this price [$5.3 billion, based on $485/Mcm]. Let them pay at least $3.5 billion and you can sort things out from there,” Putin said at a meeting of the Valdai International Discussion Club.

“The move appears to be aimed at recovering the...