Ukraine last week wrapped up an unprecedented winter. Thanks largely to declining consumption, the country managed not to buy natural gas from Russia's Gazprom for over four of the six heating season months. The unraveling of state-owned Naftogaz Ukrainy's monopoly meant the private sector bought half the 2.7 billion cubic meters (3 billion cubic feet per day) imported from Europe in March (WGI Jan.20' 16). Both would have been unthinkable a year ago. But a new gas law mat went into effect last October means market liberalization is moving forward, even if there's some way to go before it can be considered truly open.
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