Gazprom Naftogaz Agreement

Gazprom and the Ukrainian Ministry of Justice have signed an irrevocable amicable agreement to remove all future ongoing and future claims from Ukraine against the company arising from the resolution of the Anti-Monopoly Committee of Ukraine. Today, representatives of Naftogaz, Ukrainian gas transmission network managers (GTSOU) and Gazprom signed a series of agreements to continue the transit of Russian gas through Ukraine until 2024 included. 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. The agreement was outlined hours after US President Donald Trump passed sanctions against the Nord Stream 2 pipeline between Russia and Germany. The package of agreements signed on 30 December in Vienna after five days of negotiations is the culmination of major rounds of negotiations in recent weeks, during which Gazprom has pledged to repay Naftogaz an unpaid debt of $2.9 billion as part of the Stockholm transit arbitration procedure of February 2018. Naftogaz confirmed receipt of the money on December 27, 2019. – A fee regime against the existing 10-year shipping contract, which expires at the beginning of the reception date, January 1, 2020. Naftogaz, Ukraine`s state-owned gas company, said it had received $2.9 billion from Russia`s Gazprom to settle a dispute that is part of a broader deal reached by the two companies earlier this month.

Naftogaz and Gazprom said on 21 December that they had agreed on a five-year contract from 1 January to deliver Russian gas to Europe via Ukraine`s pipelines. As part of the deal, Gazprom agreed to pay Naftogaz $2.9 billion in 2017 through an arbitration judgment in Stockholm. In exchange, Naftogaz agreed to drop another complaint it filed earlier this year in Stockholm seeking nearly $12 billion in compensation from Gazprom. “Naftogaz confirms the receipt of a $2.9 billion compensation from Gazprom,” the company said in a tweet on December 27. Gazprom and Naftogaz of Ukraine have entered into an irrevocable settlement agreement that requires that all outstanding arbitration and legal actions between the parties be closed and that the parties waive in the future all possible claims under the supply and transit contracts of 19 January 2009. Prior to the signing of the transaction agreement, Gazprom had paid Naftogaz $2.9 billion within the protocol, in accordance with the Stockholm Court of Arbitration ruling. BUCHAREST (ICIS) – Ukraine and Russia have signed a five-year transit agreement for guaranteed minimum amounts from 2020, Ukraine`s Naftogaz confirmed late Monday. 3) Naftogaz and Gazprom deal, under which the two parties waive reciprocal claims under the 2009 contracts.

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