Gazprom ready for talks with Ukraine on gas transit – Russian media

Gazprom Deputy Chairman Alexander Medvedev says Russia's gas monopoly is ready to negotiate with Ukraine on a new gas transit contract.

He noted that the arbitration proceedings on Gazprom's debt before the National Joint-Stock Company Naftogaz of Ukraine "could help" the talks, rather than hinder them, the Russian news agency RIA Novosti reported.

According to Medvedev, the termination of existing contracts with Naftogaz does not mean the halt of gas transit to the European Union via Ukraine.

As UNIAN reported earlier, Gazprom lost a gas dispute with Naftogaz in the Stockholm Arbitration, being obliged to pay the Ukrainian company some $2.56 billion and supply up to 5 billion cubic meters of gas per year in 2018-2019 at prices in line with the cost of gas in European gas hubs.

Read alsoExpert: Ukraine's gas transport system needs modernization, but still fully functionalDespite defeat, Gazprom announced intention to terminate in court the contract with Ukraine for the supply and transit of gas, and reduced the pressure in the gas transmission system, which complicated gas transit to Europe and caused a temporary gas shortage in the GTS (March 2-3).

After the "gas" crisis was successfully overcome, the European Commission stated that Ukraine fulfilled all obligations it had assumed on gas transit supplies.

In the last decade of March, Gazprom officially notified Naftogaz on their refuses to comply with the arbitration award.