Below is a summary of the main energy-related events in Russia, the CIS and neighboring countries on December 8, 2005
* Russia and Ukraine settled on 51 billion cu m of natural gas supplies in 2006 but failed to agree on payments
* Russian President Vladimir Putin said that the state of the Ukrainian economy allowed it to buy Russian natural gas at market prices
* The Russian Economic Development and Trade Ministry lowered its 2006 oil production forecast by 3 million tons, or 0.6%, from 487 million to 484 million
* The Russian government said it would postpone its review of Gazprom's 2006 investment program until next year
* Russian Economic Development and Trade Minister German Gref supported a proposal by the industry and energy minister to hold an initial public offering (IPO) of the shares of electric power generating companies in 2006
* The State Duma, the lower chamber of the Russian parliament, debates a bill lifting the "ring fence" from around common Gazprom shares to allow foreigners to buy stock in both its second and third readings December 9
* Deputy Prime Minister Alexander Zhukov said that Russia's utility strategy needed to be thoroughly revised because it did not meet the current electric energy needs of the country
* Russian Energy Minister Viktor Khristenko said the reform of electricity giant Unified Energy System (UES) would be completed by the end of 2008
* Russian nuclear power plants increased their power output in January-November 2005 by 3.8% year-on-year to more than 133.5 billion kwh
