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Gazprom, Naftogaz-Ukraine discuss new contract on gas transit via Ukraine to EU
10:56, 11 April 2018

Gazprom, Naftogaz-Ukraine discuss new contract on gas transit via Ukraine to EU

The deal will focus on the terms of the contract for the period since 2020

10:56, 11 April 2018

Open source

Russia's energy monopolist Gazprom and Ukraine's NJSC Naftogaz started negotiations on the new contract about the transit of gas via Ukraine to Europe. According to Vedomosti, the deal will focus on the terms of the contract for the period since 2020, so it is not about the revision of the acting contract, which expires in late 2019.      

A source close to Naftogaz reported that the issue of extending the transit after 2019 was raised several weeks ago, as the representatives of both companies met for talks. The negotiation just began, and there is no information about any certain conditions discussed so far.

On February 28, Stockholm arbitrary court granted the motion of Ukraine's Naftogaz as it sued Gazprom for under-supply of the agreed volumes of gas for the transit. Gazprom is also due to pay Naftogaz 2.56 billion U.S. dollars, with USD 526,000 added every day since March 1.

After the decision of Stockholm arbitrary court, Gazprom decided to break the current deal with Naftogaz. In turn, Ukraine confiscated all means of Russia's Gazprom in this country.

Related: It is necessary to keep gas transit through Ukraine, - Merkel on Nord Stream 2

Related: EU can extend gas directive action for third countries’ pipelines to counter Nord Stream 2

Related: Social (in)justice: Why natural gas is expensive in Ukraine?

Related: Rise in gas prices: Does IMF really require this?

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