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26Jul19

Russia suggests Ukraine extend existing gas transit contract for a year

Russia has proposed that Moscow and Kiev extend the current gas transit contract, which expires on December 31, 2019, for a year, Energy Minister Alexander Novak told reporters on the sidelines of the meeting of the Russian-Turkish Intergovernmental Commission.

"We will wait for trilateral consultations to start, when a new government is formed [in Ukraine] and contractors show up. In general, we are in favor of Ukraine buying gas directly from us. We suggested that our colleagues extend the existing contract for a year under existing conditions," Novak explained.

Earlier on Friday Reuters reported citing sources "familiar with Russian thinking" that Russia wants to strike a short-term deal with Kiev on gas transit to Europe when the current 10-year agreement expires.

According to Reuters, Ukraine is looking for a long-term, 10-year deal, which is not beneficial for Russia. Moscow wants to strike a one-year deal so that it can increase capacity and launch the Nord Stream 2 and TurkStream gas pipelines.

Earlier, Gazprom CEO Alexei Miller reported that, under the EU law, Ukraine will not be able to sign a new contract for gas transit until the end of the year and added that Gazprom is ready to extend the existing contract.

[Source: Tass, Antalya, 26Jul19]
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