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. Last Updated: 07/27/2016

Itera Cuts Kiev Gas

KIEV — The Russian energy company Itera has cut natural gas supplies to Ukraine from 30 million cubic meters a day to 4.8 million cubic meters a day due to unpaid debts, officials said late Thursday.

Four Ukrainian energy-generating plants paid for only 27.4 percent of the gas supplied by the Itera company last month and they currently owe it some $50 million, a spokesman for the company’s Kiev branch said on condition of anonymity.

Itera plans to continue cooperating with the plants, but "the deal depends only on payments," he said.

Itera sells the gas to Ukrainian energy plants at a cost of $45 per 1,000 cubic meters.