Energy in Ukraine

Russia will raise the price of gas for Ukraine to USD 485 per 1000 cubic meters.

The Russian energy company, Gazprom has raised the price it charges Ukraine for gas by 43.6%.

The company's chief executive Alexei Miller said the change was because Kiev has failed to pay its bills.

He said its current debt to Russia stood at just over USD1.7 B.

Ukraine has agreed on a 50% increase of gas prices for domestic consumers.

Hike of gas bills is part of conditionality set by the International Monetary Fund (IMF) if Ukraine is to be granted an aid package.

State energy company Naftogaz reported that price changes will be into force from May 1, with more rises due to be made until 2018.

Britain urgently needs shale gas to reduce energy dependence from Russia, its PM David Cameron said Wednesday.

The Guardian quotes him as saying that the country has a duty to step up gas production.

Cameron described Ukraine's crisis as a "wake up call" for the possible repercussions that reliance on Russian gas could have on Europe.

Ukraine to lose offshore gas fields in Black Sea

KIEV -- With the loss of Crimea, Ukraine has lost not only its naval bases in the territory, but also offshore gas fields in the Black Sea, reports said on Thursday.

These fields will now likely be taken over by Russia's oil and has giant Gazprom, AFP is reporting.

Russian energy giant Gazprom has warned that it will stop supplies to Ukraine if it does not pay its debt.

Alexei Miller, its Executive Director, explained Ukraine currently owes USD 1.89 B and assure his company "cannot supply gas for free", he was reported by Businessweek as saying.

Obama presents "conditions for diplomatic solution"

MOSCOW, WASHINGTON -- U.S. President Barack Obama and Russian President Vladimir Putin spoke by telephone last night for an hour about the situation in Ukraine.

According to reports, they came to no agreement.

KOPAONIK - The crisis in Ukraine is not affecting the gas price in Serbia, Srbijagas CEO Dusan Bajatovic said on Wednesday, adding that gas reserves are enough for households during this heating season.