RUSSIAN prime minister Vladimir Putin warned Ukraine yesterday of “severe consequences” if it disrupted gas supplies to Europe, as another New Year’s Eve energy dispute went down to the wire.

A dispute over a major pipeline carrying Russian gas to Europe resurfaced today when Poland’s state-owned gas monopoly accused Russian natural gas giant Gazprom of partially suspending co-operation.

Senior Belarusian energy officials held talks in Moscow this evening to seek an agreement on a new supply contract for Russian natural gas, hoping to avert a threatened New Year’s Day cut-off that could affect European deliveries, officials said.

Russia and Belarus are digging in today in a deepening dispute over natural gas prices, as Russia's state-run gas monopoly Gazprom started the countdown towards a January 1 supply cut unless the neighbouring nation agreed to pay more.

Georgia will pay more than double what it pays now for Russian natural gas under an agreement signed yesterday, a top executive with Russian gas giant OAO Gazprom said, in a deal that could potentially threaten its fragile economy.

Georgia will pay more than double what it pays now for Russian natural gas under an agreement signed today, a top executive with Russian gas giant OAO Gazprom said, in a deal that could potentially threaten its fragile economy.

The head of Russian natural gas giant OAO Gazprom’s export division yesterday accused the head of the International Energy Agency of attempting to “destroy” the company by organising European governments to thwart Gazprom’s interests, Dow Jones Newswires reported.

Energy ministers from the world’s richest countries today called for market-oriented approaches to increasing supplies and said significant investments would be needed in production, transportation and processing of resources.

The bitter cold seizing Russia retained its icy grip today and severe freezing temperatures spread westwards into much of Europe.

European buyers of Gazprom’s natural gas today said they were receiving full supplies after the Russian monopoly increased shipments through Ukraine.

Russia’s state-controlled OAO Gazprom natural gas monopoly today accused Ukraine of diverting about $25m (€21m) worth of Russian gas intended for customers in other European countries, Russian news agencies reported.