Oil Voice: European gas chess
Ever since he was elected, some 16 months ago, Ukrainian President Victor Yanukovych has been seeking to renegotiate the gas supply deal approved by his predecessor and signed by then Prime Minister and now jailed, Yuliya Tymoshenko. The contract requires Ukraine to buy more gas than it needs or pay a penalty for the gas it does not take and this has resulted in Kyiv now paying $414 per thousand cubic meters which is one of the highest gas prices in the world today.
Read more here.
Read more here.