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Naftogaz to purchase attractively priced Russian gas in 2018
14:37, 17 January 2018
Naftogaz to purchase attractively priced Russian gas in 2018

Head of Naftogaz did not specify the date of the resumption of deliveries from 'Gazprom'

14:37, 17 January 2018

Open source

The 'Naftogaz' intends to purchase 4-5 billion of cubic meters of gas from Russia and continue the import from the EU in 2018. Andry Kobolev, the Head of the 'Naftogaz-Ukraine' claimed this as Ukrinform reported.

''Naftogaz' plans to import the gas from two directions. The price that should be established by 'Gazprom' seems to be very attractive. We should realise this benefit', Kobolev said.

However, he did not specify the date of the resumption of deliveries from 'Gazprom'.

Related: Ukraine doubles gas pumping from underground storage due to cold weather

'Naftogaz-Ukraine' and Russian 'Gazprom' cannot agree on the supplies of the gas more than three years. Stockholm Arbitration made a separate decision on the case of 'Naftogaz' and 'Gazprom' on the agreement of the gas supply to Ukraine since 2009 in May 2017. The court completely rejected the demand of 'Gazprom' on the principle 'take and pay' and satisfied the demand of 'Naftogaz' on the reconsidering of the agreement's price with the taking into consideration of the market prices. The court also canceled the prohibition for the re-exporting of the gas.

 

Related: Ukraine will buy Russian gas. At what price?

'Naftogaz' won the arbitration against Russian Gazprom under a contract for the gas supply on all disputable issues on December 22, 2017. In particular, it is reported that Stockholm Arbitration reduced the price of Russian gas for Naftogaz in the second quarter of 2014 by almost 27.4% - from $ 485 to $ 352 per 1,000 cubic meters. It was noted that due to the revision of the contract price, Naftogaz saved $1.8 billion in gas purchased in 2014-2015.  It was noted that 'Naftogaz' saved 1.8 billion dollars due to the reconsidered price in 2014-2015.

The dispute on the case of the transit agreement where the financial demands of the 'Naftogaz' make up to 16 billion dollars, including the interests continues. The decision is expected on February 28, 2018.

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