Inter RAO UES to buy energy in Ukraine

Oct 06, 2006 02:00 AM

Inter RAO UES has agreed with the Fuel and Energy Ministry of Ukraine to annually buy up to 6 bn kWh of electric energy to cover the shortage in the European Russia.
Of interest is that the agreement spells out providing to the power stations of Ukraine the gas of Turkmenistan bought on Ukrainian market. The import of Ukrainian energy is expected to start in the near term.

RAO UES subsidiary, Inter RAO UES, has agreed with the Fuel and Energy Ministry of Ukraine about deliveries of electric energy to Russia in exchange for the gas, Inter RAO UES CEO Andrey Rappoport announced. The purpose to attain is to reduce the winter shortage of electric energy in the European Russia. The deliveries could start in the near term, according to Rappoport.
The energy will be supplied from the power stations of Ukraine, said representatives of Inter RAO UES without disclosing the size of the shipment. According to a source close to top management of Inter RAO UES, it could be 500 mm kWh a month (6 bn kWha year).

The gas used to ensure deliveries will be of import origin, said representatives of Ukrainian Fuel and Energy Ministry. It will be provided from the quota of Swiss RosUkrEnergo (RUE; Gazprom holds 50 %, Dmitry Firtash owns 45 %). As RUE has no business in Ukraine, it was decided to buy the gas from UkrGazEnergo, which is the venture of RUE and Naftogaz Ukrainy.
Management of RosUkrEnergo hadn’t been involved in the negotiations of Inter RAO UES and Ukrainian ministry, sources with the Moscow office of the company specified. In Gazprom, they said they had heard nothing about additional gas deliveries to Ukraine.

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