Naftogaz ready to have Gazprom cover $3 bln debt with gas supplies: negotiation results

Naftogaz has announced its readiness to have Gazprom cover its $3 billion debt in line with the Stockholm arbitration award with gas supplies to Ukraine, Executive Director Vitrenko wrote on Facebook. The official said Naftogaz had held another round of negotiations with Gazprom on gas transit from 2020. "We've completed another round of negotiations with Gazprom in the context of trilateral gas transit talks," he wrote. According to Vitrenko, the European Commission asked the parties to discuss settlement of issues of both the past and ongoing Stockholm arbitration, since Gazprom included this in a "package" for transit negotiations. "This is exactly what we did. Our position on the issue is public. To demonstrate our constructiveness, we said that we are ready to consider the possibility of receiving gas from Gazprom to have them pay off debt in line with the award of the previous Stockholm arbitration case ($3 billion)," he noted. Vitrenko said that Ukraine was also ready to withdraw its new arbitration claim if a long-term contract for the transit of Russian gas via Ukraine after 2020 was concluded with Gazprom. "We are also ready to withdraw our new arbitration claims, but only if a long-term transit contract is signed that will cover all costs, and if Naftogaz is compensated for Gazprom's failure to fulfill its obligations under existing contracts," he said . The top manager emphasized that Ukraine country took a constructive position, according to the recommendation of the European side. "And here, as you yourself see, we also have a constructive position – cover expenses, even without economic profits, and we will not sue. Now we are ready to return to tripartite negotiations and tell Europeans how we diligently discussed these issues," he explained. In the comment section to the post, Vitrenko declined to elaborate on Gazprom's reaction to the voiced proposal. "We do not comment on their position," he stressed.

Naftogaz ready to have Gazprom cover $3 bln debt with gas supplies: negotiation results

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