Ukraine's reduced demand for gas will cost Gazprom $1.3 billion in 2009, the Russian energy giant said on Monday, RIA Novosti reported.

In an interview with the international TV channel Russia Today, Gazprom spokesman Sergei Kupriyanov said the sum did not include penalties and fines and was calculated proceeding from "take or pay" terms.

"The minimum annual revenues for the gas Naftogaz contracted to consume in 2009 would have amounted to $1.3 billion. This is the sum which we will not receive," Kupriyanov said.

Instead of 40 billion cubic meters of gas contracted for 2009, Ukraine will buy less than 25 billion cubic meters. But Russia has said it will not fine Kiev for falling short of contracted volumes due to the ex-Soviet state's difficult economic situation.

Kupriyanov also said that the volume of natural gas supplies agreed with Ukraine for 2010 would eliminate the risk of penalties.

Russia's Gazprom and Ukraine's Naftogaz agreed in November to reduce Russian national gas deliveries by 35% in 2010, from the previously contracted 52 billion cubic meters to 33.75 bcm.

The agreement was reached during a meeting between Gazprom's chief Alexei Miller and Naftogaz's Oleh Dubyna.

Russia, which supplies around one quarter of Europe's gas, briefly shut down supplies via Ukraine's pipeline system at the start of the year amid a dispute unpaid bills and new prices.

The conflict was resolved in January, when Putin and Tymoshenko reached a deal on imports and transit for 2009.

Ukraine transits around 80% of Russia's Europe-bound gas.


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