Energy minister Orzhel: Russia to repay Ukraine about $3 bln by year-end

Russia will repay Ukraine about $3 billion by the end of 2019 pursuant to the judgment of the Arbitration Institute of the Stockholm Chamber of Commerce over 2009 gas transit contract.

Energy minister Orzhel: Russia to repay Ukraine about $3 bln by year-end

Energy and Environmental Protection Minister of Ukraine Oleksiy Orzhel made a corresponding announcement at a briefing on Saturday, commenting on the results of trilateral gas talks that took place in Minsk on December 20 with the participation of the European Commission, Ukraine and Russia, an Ukrinform correspondent reports.

“We have good news. We can say that the parties welcome those potential arrangements that have to be implemented already at the level of companies… It is very important: the transit will be [extended] and the amount fixed in the judgments of the Arbitration Institute of the Stockholm Chamber of Commerce will be paid and it will be paid before the New Year if we implement all the package proposals. That is, Ukraine, directly NJSC Naftogaz of Ukraine, will get $3 billion pursuant to the judgment of the Arbitration Institute of the Stockholm Chamber of Commerce, that is, $2.9 billion, to be more exact, according to the agreements that are in place now,” Orzhel said.

There is a certain vision of gas transit at the political level, which is documented in the protocol, and it is now important to do some work and implement the arrangements captured in legal documents prior to January 1, the Ukrainian minister added.

As reported, Energy and Environmental Protection Minister of Ukraine Oleksiy Orzhel and Russian Energy Minister Alexander Novak said after the 5th round of gas transit in Berlin on December 19 that a final protocol had been elaborated which brought the parties closer to signing the final agreements.

During the talks in Minsk on December 20, the representatives of the European Commission, Ukraine and the Russian Federation reached the final agreement on the transit of Russian gas through the territory of Ukraine to European consumers.

The current gas transit contract between Naftogaz and Gazprom expires on December 31, 2019.

(C)UKRINFORM 2019

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