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Ukraine, Russia extend agreement for oil transit for 10 years

Director-General of Ukrtransnafta Mykola Havrylenko and Vice President of Transneft Sergey Andronov signed the document
16:00, 3 December 2019

Open source

Ukrtransnafta and Russian Transneft concluded the supplementary agreement to the treaty on the oil transit through Ukraine’s territory, which extends its action for 10 years – from January 1, 2020, until January 1, 2030, as Ukrtransnafta reported.

The document was signed in accordance with the decision of Naftogaz Ukraine, the shareholder of Ukrtransnafta dated November 27, 2019.

Director-General of Ukrtransnafta Mykola Havrylenko and Vice President of Transneft Sergey Andronov signed the document within the international conference Energy in the 21st century (Zagreb, Croatia).

Related: Unclaimed "black gold": Why Ukraine’s oil production is not growing?

The basic principles of the cooperation between Ukrtransnafta and Transneft remained unchanged, particularly, in such areas as the order of the service payment and mechanism of the interaction at the level of the technical services between two oil transporting operators.

“The conclusion of the supplementary agreement guarantees safe and stable work of the oil transporting system of Ukraine on the long-term basis, creates ground for the load of the system of the main oil pipelines with transit volumes of oil to the EU countries and provides the long-term, stable source of incomes of Ukrtransnafta,” the message said.

Earlier, Ukrtransnafta received 4.2 million euro from Russian Transneft for low-quality oil from May until November 2019. Transneft continues to reserve capacities of Ukrtransnafta that is why the sum of the payments is not final.

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