KIEV, Jan 2 (NNN-TASS) – Ukraine’s state-run energy company, Naftogaz, and Russia’s gas giant Gazprom, signed a deal that will keep natural gas flowing to Western Europe, Ukrainian President, Volodymyr Zelensky, said.
On his official Facebook, Zelensky said, Ukraine signed a five-year gas transit contract, for which Ukraine will receive at least seven billion U.S. dollars.
“The parties can extend the contract for ten years. The Ukrainian gas transit system will be loaded, which will ensure energy security and the welfare of Ukrainians,” said Zelensky.
Under the agreement, Russia will ship through the Ukrainian gas transportation system, a total volume of 225 billion cubic metres of gas in the next five years, including 65 billion cubic metres next year and 40 billion cubic metres each year, from 2021 to 2024.
Gazprom agreed to pay 2.9 billion dollars in compensation to Naftogaz, according to a ruling of the Stockholm Arbitration.
Ukraine is a key transit route for Russian gas to Europe. The current gas transit contract between Naftogaz and Gazprom that expired on Dec 31, 2019, threatened to disrupt supplies to Europe.– NNN-TASS
