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Economy 2020-05-15T04:17:40+03:00
Ukrainian news
Naftogaz Will Remain Party Of Transit Agreement With Gazprom For 5 Years As Organizing Company - Naftogaz Exec

Naftogaz Will Remain Party Of Transit Agreement With Gazprom For 5 Years As Organizing Company - Naftogaz Executive Director Vitrenko

Russia, gas, Naftogaz, Europe, Gazprom, gas transit

The Naftogaz of Ukraine national joint-stock company will remain a party of the agreement with the Gazprom company (Russia) for the transit of Russian gas through the territory of Ukraine to Europe as the organizing company for five years.

The executive director of the Naftogaz group, Yurii Vitrenko, announced this on Facebook, Ukrainian News Agency reports.

"The base case is yes, for five years. Naftogaz agreed to be the organizer of transit only so that the transit was continued, and not to remain a party of the contracts regarding transit," he wrote.

Vitrenko also added that Naftogaz is not opposed that a leading European company with an investment rating is being organizer.

Also, according to the information of the Ukrainian News Agency, it was previously assumed that the Austrian company OMV AG should have been the intermediary in transit between Gazprom and the GTS Operator of Ukraine LLC.

According to the agency’s source, OMV as an agent was introduced into the contract temporarily in case if the schedule of other procedures, including the approval by the Energy Commission (the National Commission on State Regulation of Energy and Utility Services) of new tariffs for transit, is delayed.

As Ukrainian News Agency earlier reported, Minister of Energy and Environmental Protection Oleksii Orzhel states that the protocol of agreements on the continuation of the transit of Russian gas through the territory of Ukraine does not contain agreements on direct deliveries of Russian gas.

Trilateral negotiations on the transit of Russian gas through Ukraine to the countries of the European Union from 2020 continued on Friday, December 20, in Minsk.

According to their results, Ukraine, Russia and the European Commission reached a final agreement on fundamental points on the transit of Russian gas through Ukraine to European consumers and the settlement of mutual claims.

Besides, according to their results, Ukraine and Russia agreed that under the new gas transit contract for five years, which could be extended after 2024, the transit volume in 2020 would be 65 billion cubic meters of gas, and in 2021-2024 - 40 billion cubic meters of gas each year.

The parties also agreed that Gazprom would pay the Naftogaz of Ukraine National Joint Stock Company about USD 3 billion under the decision of the Arbitration Institute of the Stockholm Chamber of Commerce (SCC; Sweden) before the end of 2019.

After Gazprom pays about USD 3 billion under the SCC decision, Ukraine will abandon the remaining claims against Gazprom regarding the reimbursement of funds related to the provision of transit services.

Больше новостей о: Russia gas Naftogaz Europe Gazprom gas transit

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