Naftogaz Ukrainy to start buying Russian gas from Gazprom in 2018

KIEV, Jan 17 (PRIME) -- Ukrainian state energy holding Naftogaz Ukrainy will restart purchases of Russian natural gas from gas giant Gazprom in 2018 in line with a decision of the Stockholm Arbitration Court, Naftogaz Ukrainy’s CEO Andrei Kobolev said in a news conference on Wednesday.

“We will have to take off a minimal volume of gas starting from this year. I will reiterate that we in Naftogaz don’t see Gazprom’s obligation to sell us 5 billion cubic meters per year at a price below the European gas price as negative, we think it is a positive aspect,” he said.

In December 2017, the court obliged Naftogaz Ukrainy to pay U.S. $2 billion to Gazprom for the already supplied gas, and lowered the annual contracted purchases to 5 billion cubic meters ordering the Ukrainian company to buy 4 billion cubic meters of the amount under a take-or-pay condition staring from 2018.

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