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Alexey Miller Lays Out Details of Protocol on Gas Cooperation with Ukraine

Source: www.gulfoilandgas.com 12/21/2019, Location: Asia

“In line with the Protocol on gas cooperation, Gazprom and Naftogaz will sign an agreement to settle their mutual claims under the existing contracts, thereby restoring the balance between the interests of the parties.

According to the settlement agreement, no new claims shall be filed, the pending arbitration and legal claims shall be withdrawn, and a payment shall be made under the final ruling of the Stockholm Arbitration Court.

Gazprom and the Ukrainian Government will sign an amicable agreement on canceling the claim filed by the Antimonopoly Committee of Ukraine.

The European Commission will ensure compliance with the EU regulations governing gas transportation in Ukraine.

On its part, Ukraine will guarantee that the regulator will be independent, the transit customer's interests will be protected, and the tariff setting will be economically feasible.

Gas Transmission System Operator of Ukraine will sign an inter-operator agreement with Gazprom and a transport agreement for the booking of the Ukrainian gas transmission system with Naftogaz of Ukraine. Naftogaz will act as the organizer of transit, thus assuming the risks that will arise in the transition period.

The organizing company will book transmission capacities for a period of 5 years to transmit 225 billion cubic meters, including 65 billion cubic meters for 2020 and 40 billion cubic meters for 2021 and the subsequent years, on the condition that the tariff is competitive.

Gazprom and Naftogaz may consider the possibility of supplying gas to Ukraine using NCG-based pricing.”

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