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9 april 2018

Ukraine to get about $3 bln in 2018, 2019 as revenues from gas transit - Vitrenko

Ukraine to get about $3 bln in 2018, 2019 as revenues from gas transit - Vitrenko

Ukraine will receive about $3 billion each in 2018 and 2019 as revenues from natural gas transit, Naftogaz Chief Commercial Officer Yuriy Vitrenko has said.

"The revenues from transit should be at the level of $3 billion each in 2018 and 2019," he wrote on his Facebook page on Tuesday.

According to the ruling of the Arbitration Institute of the Stockholm Chamber of Commerce, Naftogaz should receive money from the transit through Ukraine's gas transport system of 110 billion cubic meters of Russian gas regardless of actual volumes of transportation. The contracts between Gazprom and Naftogaz for gas supply and transit are valid until the end of 2019.

According to Naftogaz CEO Andriy Kobolev, this is not a classic "take or pay" case, but if Gazprom does not fulfill the contractual volume of transit of 110 billion cubic meters per year, Naftogaz will again file a claim with the arbitration court and will sue the Russian company for non-fulfillment of the terms of the contract.


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