It seems as if the new gas contract will not be revealed completely to the general public, as it is a confidential one. Anyway, yesterday more details about purchase volumes were disclosed by Naftogas officials. Thus we can have a better overview of what we can expect in 2009. According to our estimates, Ukraine will purchase 52bn cm of gas in 2009 for $12.4bn, which includes 40bn cm for consumption and 11bn cm of technical gas which are purchased by Naftogas, and 13.5bn cm which is the quota of Gazpromsbyt, Gazprom's daughter company in Ukraine. According to our estimates, Ukraine will receive $1.8bn as a fee for gas transit in 2009. Thus, this will mean additional pressure on Ukraine's current account balance of -$2.9bn in 2009.

Short Note Ukraine: Russian gas imports and transit in figures