Russian export monopoly Gazprom pledged Monday to honour contracts for gas deliveries to European consumers despite an impasse in negotiations with Ukraine to recoup debt arrears or see supplies cut, according to dpa. Executives of Gazprom and Ukraine's Naftogaz began talks in Moscow Monday for a way out before the threatened cuts from January 1 that would squeeze Gazprom's revenues and endanger the flow of supplies to Europe. Over 80 per cent of Russian gas pumped to European clients passed through Ukrainian territory. "Gazprom will fulfil completely its obligation to European gas consumers," the company said in a statement after an extraordinary board meeting in Moscow. Amid dispute with Ukraine, Gazprom also delayed a meeting to discuss its 2009 investment plan, the firms statement said. Ukraine is under pressure to pay back over 2 billion dollars in non-payment for supplies to keep flowing in 2009. Russian First Deputy Prime Minister Andrei Denisov said Russia would hold out hope for a solution until "15 minutes before New Year's eve." In a similar dispute in 2006, Russia blamed Kiev for siphoning off gas to European customers - sparking fuel shortages and a price spike as far as Paris. Gazprom claims Ukraine has paid only 800 million in arrears of its total debt, and analysts say the country's crushing economic problems make reimbursing of more of the debt difficult. Gazprom spokesman Sergei Kupriyanov earlier told radio station Ekho Moskvye he was skeptical Ukraine would be able to make a cash payment and ditch efforts had turned to other possible forms of payment. "In the last days of the year we are trying to find ways other than monetary ones to settle these debts," Kupriyanov said.
