Naftogaz Gazprom Agreement

December 13, 2020 in Uncategorized by

The treaty signed in Vienna, based on the political agreement reached in Berlin and Minsk on 19 and 20 December, provides for a transit volume of 65 billion cubic metres of gas in 2020 and 40 billion cubic metres for the next four years (2021-2024). In addition, the two companies have signed an agreement that provides for the withdrawal of all complaints filed by Kiev against Gazprom for more than $12 billion, although the Russian giant paid Kiev $2.9 billion under the arbitration decision of the Stockholm Court of Arbitration. The agreement, reached just days before the expiry of the existing contract, has raised growing concerns about continued gas exports at the beginning of the year. Russia has twice cut off Ukraine`s gas in the price-fixing dispute. Both companies are expected to sign the five-year contract before the end of the year. – a fee regime against the existing 10-year transit contract, which expires at the beginning of the reception date on 1 January 2020. Ukraine`s gas transmission network manager has signed a transport contract with Naftogaz and an operating agreement with Gazprom. 3) Naftogaz and Gazprom deal, under which the two parties waive reciprocal claims under the 2009 contracts. It has already signed interconnection agreements with Hungary, Moldova, Romania and Poland. It was also expected to sign an interconnection agreement with Slovakia, although it is not certain that the agreement was reached by 30 December. Slovakia itself, as a long-term transit agreement with Gazprom, expires in 2028. Gazprom, Russia, said the agreements were part of a “big package to restore the balance of the parties` interests.” Gazprom and Naftogaz have reached an agreement to encourage the transfer of gas into Ukraine.

Naftogaz acts as a transit organizer and assumes the associated risks. BUCHAREST (ICIS) – Ukraine and Russia have signed a five-year transit agreement for guaranteed minimum amounts from 2020, Ukraine`s Naftogaz confirmed late Monday. The agreements are the culmination of extensive rounds of negotiations in recent weeks, during which Gazprom has pledged to repay Naftogaz $2.9 billion in outstanding debt as part of the February 2018 Stockholm transit arbitration proceeding. Naftogaz confirmed receipt of the money on December 27, 2019. On 30 December 2019, Gazprom and Naftogaz Ukrainy signed an agreement on the transit of Russian gas through Ukraine for the period 2020-24 with transit volumes of 65 bcm in 2020 and 40 bcm per year thereafter. It is to this extent that we analyse how the agreement was concluded, the terms of the agreement and the transit flows that probably passed through Ukraine during the duration of the agreement.