Naftogaz paid 80% of sum for gas imported in February

The Ukrainian president's commissioner for international energy security, Bohdan Sokolovsky, said earlier that Naftogaz did not have the necessary amount of funds needed to make payments for gas supplied by Gazprom in February 2009.

“We actually imported 1 billion cubic meters of Russian gas in February, but the contract for February foresees 2 billion cubic meters. Thus, according to contracts, Ukraine should have paid USD 720 million on a give-and-take basis for gas consumed,” he said.

Sokolovsky noted that the company did not have this amount of funds. Officials said the company had accumulated only USD 300 million that was not enough to pay for gas that was actually consumed, because USD 360 million was required.