Gazprom Threatens To Cut Natural Gas To Ukraine Over $1.5B Overdue Bill

February 7, 2008 4:32 p.m. EST

Moscow, Russia (AHN) - Russian natural gas monopoly Gazprom said it would have no choice but to shut off supplies if Ukraine does not pay its overdue bill, but offered reassurances that doing so would not disrupt supplies to Europe.

According to reports, Gazprom has made up shortfalls in natural gas deliveries by other suppliers to the Ukraine and several other countries and Ukraine alone has not paid for the shipments.

Unless Ukraine begins sending payments on its outstanding debt of $1.5 billion, Gazprom has said it will cut off its supplies to that nation on Feb. 11. It supplies about 25 percent of Ukraine's piped in natural gas.

Because Gazprom's delivery pipeline to Europe runs through Ukraine, its many European Union customers have expressed concern that their supplies will be disrupted. However, Gazprom has offered reassurances that supplies to the EU will not be affected.

About 80 percent of Europe's' natural gas comes from Gazprom in pipelines that run through the Ukraine.