Moscow, Kiev Agree to Renew Gas Flow to Ukraine

Energy | October 30, 2014, Thursday // 14:35|  views

Russian Energy Minister Aleksandr Novak (C) arrives at a trilateral energy meeting with Ukrainian Energy Minister andEU commission at the EU commission headquarters in Brussels, Belgium, 29 October 2014. Photo by EPA/BGNES

Russia and Ukraine have agreed on the conditions under which gas supplies from energy giant Gazprom will be conducted in the winter, Russia's Energy Minister says.

A "document package" to elaborate on technical details of the agreement is to be drafted to complement the existing contract between Gazprom and the Ukrainian utility Naftogaz, Alexander Novak said on Thursday after a night of heated talks between officials from the EU, Russia and Ukraine.

Novak added the EU Commission had "fully" agreed with the Russian position on how the gas dispute should be settled, ITAR-TASS reports.

His announcement followed reports that Gazprom and Naftogaz were still at loggerheads over gas supplies after discussing the issue on Wednesday evening.

No solution has so far be found to the financial issue, with Ukraine and Russia still failing to reach common ground on the former's outstanding debt.

Moscow is now expecting that Kiev should transfer by end-2014 USD 3.1 B worth of payments on what it owes for past deliveries and also for undelivered (but envisaged in the contract) volumes.

The final price will be USD 385 per thousand cubic meters.

In June Russia introduced prepayment for gas to Ukraine, freezing supplies and announcing a 80-percent hike (from USD 285 to 485 per 1000 cubic meters).

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Tags: Gazprom, Naftogaz, Russia, Ukraine, Alexander Novak


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