2.4.5. Debt Problems and Discontinued Supplies in 1999

In April 1999, Turkmenistan stopped gas deliveries to Ukraine again as Ukraine was already \$100 million in debt and was unable to pay for any more gas [34,35]. In the summer of 2000, Turkmenistan and Ukraine signed a preliminary 10-year agreement with the price of \$42/1000 m<sup>3</sup> to be paid 50% in barter. Later, the Ukrainian president criticised the agreement because the price was too high. In October of 2000, Turkmenistan and Ukraine agreed for 5 bcm to be delivered in the rest of the year and 30 bcm in 2001 for a price of \$40/1000 m<sup>3</sup> [34,35]. Due to past non-payment problems, the agreement involved a \$7 million insurance fund and weekly advance payments.
