Putin: Russia to prolong Ukraine gas transit if crt dispute solved

HELSINKI, Jul 16 (PRIME) -- President Vladimir Putin told his U.S. counterpart Donald Trump on Monday that Russia is ready to prolong a gas transit deal with Ukraine if a court dispute between the countries’ companies is solved.

“Concerning Nord Stream-2. Mr. President (Trump) has expressed concern of a possible ceasing of transit across Ukraine. I assured Mr. President that Russia is ready to keep this route. Besides, we are ready to prolong the transit contract expiring next year if a dispute between the companies is solved in the Stockholm Arbitration Court,” Putin said.

Trump said that the U.S. will compete with Russia’s Nord Stream-2 gas pipeline project by selling liquefied natural gas (LNG).

The Nord Stream-2 project envisages construction of two lines of a natural gas pipeline with an annual capacity of up to 55 billion cubic meters, running from the Russian shore to Germany under the Baltic Sea. Russian gas giant Gazprom will implement the project together with Germany’s E.ON and BASF, Royal Dutch Shell, Austria’s OMV, and France’s Engie.

The Stockholm arbitration court ruled earlier in 2018 that Gazprom must pay Naftogaz Ukrainy U.S. $2.56 billion for non-shipment of gas. Gazprom said in June that a court of appeals suspended the ruling and that the company would use the decision as a ground to contest property seizure under the case in Switzerland and the Netherlands. Naftogaz Ukrainy is trying to enforce the arrest.

Putin said that Russia and the U.S. could jointly work on regulation of the global oil and gas market.

Putin also said he discussed economic cooperation with Trump and agreed to establish a group for leading Russian and U.S. businessmen.

“We paid special attention to the economy. There is an undeniable interest to cooperation by the business circles of the two countries. The U.S. business delegation was one of the largest at the St. Petersburg economic forum in May, more than 500 representatives of the U.S. business circles took part,” Putin said.

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