Ukraine - Gas from Russia Needed for the Winter ... but Not Much

Ukraine has reserved $3.1 bln for winter gas needs - PM KIEV Fri Aug 22, 2014 3:45pm BST Aug 22 (Reuters) - Ukrainian state-owned gas company Naftogaz has put aside $3.1 billion to buy gas for the forthcoming winter, Ukrainian Prime Minister Yatseniuk said on Friday, warning that the country was not able to survive without supplies of Russian gas. Yatseniuk said Ukraine, to whom Russia's Gazprom cut supplies on June 16 in a row over pricing, needed a further 5 billion cubic metres (bcm) of Russian gas. Ukraine has been trying to secure more gas from the European Union and cut consumption levels from last year's 50 billion cubic metres (bcm). (Reporting by Natalia Zinets; Writing by Alessandra Prentice) http://uk.reuters.com/article/2014/08/22/ukraine-crisis-gas-idUKL5N0QS2X220140822

It doesn't look as though they're going to need a lot of gas if they're *only* after $5billion cubic metres.

Kind of confused tho.

Ukraine's not paid their bill.
They're haggling over the price.
They've got $3.1 bil put away ... and?
Are they paying their outstanding bill with this?  Does it cover what they owe? 

It says they can't survive without supplies from Russia ... but it says they only need a FRACTION of the level they previously use.

If I were Russia, I'd tell them to stuff it; pay up and get lost - no more gas, for you.  LOL

** Ukraine's up shit creek until USA get's the LNG exports happening if Russia's contracts with third parties hold, because Russia's contracts (from memory) was along the lines of *no reverse cycle*.  So if they're planning on a transit through Ukraine to a third party and back to Ukraine diversion thingy, it may not work out for them.

We'll see, I guess.

[Sorry if there's typos.  Distracted.]