Exec: Gazprom, Naftogaz Ukrainy negotiate contract cancellation

MOSCOW, Mar 27 (PRIME) -- Russian gas giant Gazprom and Ukrainian energy holding Naftogaz Ukrainy negotiated cancellation of gas supply and transit contracts in the week between March 19 and March 25, Deputy CEO of Gazprom Alexander Medvedev told reporters on Tuesday.

“Yes, indeed, a meeting between Gazprom and Naftogaz Ukrainy was held last week, the process of negotiations on gas supply and transit contract cancellation began,” Medvedev said.

He also said that Gazprom notified Naftogaz Ukrainy about intent to contest a ruling by the Stockholm arbitration court on the transit contract until the end of March.

The Stockholm arbitration court ruled on March 1 that Gazprom must pay Naftogaz Ukrainy for non-shipment of gas. Gazprom said that the decision misbalanced the companies’ interests and requested termination of gas transit and delivery contracts with Ukraine.

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