Gazprom, Naftogaz Reportedly Clinch Winter Package Deal

Ukraine’s Energy Minister Volodymyr Demchyshyn said that the country will significantly increase the amount of gas stored in its facilities in the coming weeks, also confirming that Russian gas started to flow to Ukraine. 

“The reserves will be increased from 15.8 bcm to 17-18 bcm” Demchyshyn said in a note released on Monday. 

Demchyshyn also said that domestic gas production did not reach the expected levels. 

Gazprom said on Monday that it received almost half of the $500 million expected in pre-payment for October 2 bcm of gas. As a consequence, Russia’s top producer resumed gas supplies in the morning of Monday. 

According to Reuters, Naftogaz and Gazprom have signed a winter package for Russian gas to Ukraine.