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Russia to transit 65 Bcm of gas through Ukraine in 2020 under new deal: Gazprom

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Russia to transit 65 Bcm of gas through Ukraine in 2020 under new deal: Gazprom

  • Author
  • Anastasia Dmitrieva
  • Editor
  • Alisdair Bowles
  • Commodity
  • Natural Gas

Moscow — Under the newly reached five-year transit agreement, Ukraine will transit 65 Bcm of Russian gas to Europe in 2020 and 40 Bcm/year in 2021-2024, Gazprom CEO Alexei Miller said Saturday.

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"The organizing company [Naftogaz] will reserve transport capacities for five years in the amount of 225 Bcm, including 65 Bcm for 2020, 40 Bcm for 2021 and subsequent years, subject to the establishment of a competitive tariff," Miller told reporters.

Under the new five-year deal, which is to be signed by December 29, Russia will pay Ukraine some $2.9 billion, as ruled by the Stockholm arbitration court, and in turn the parties will drop their other legal claims against each other.

"The settlement agreement provides for the waiver of new claims, the recall of arbitration and lawsuits in which there are no final decisions, and payment of the final decision of the Stockholm arbitration," Miller said.

Separately, the Ukrainian energy ministry said the new agreement doesn't include direct supplies of Russian gas to Ukraine.

However, Ukraine is ready to consider buying Russian gas directly with a discount if all points of the deal are implemented, according to the protocol of the Minsk talks held Friday between the two sides, as quoted by Prime news agency.

According to Gazprom, the tariff for gas transit in 2020 has not been set yet.

"Not determined. The tariff will be set by an independent regulator," the company said.

--Anastasia Dmitrieva,

--Edited by Alisdair Bowles,