The contract may be extended for another 10 years / segodnya.ua
The minimum volume is 65 bcm in the first year and 40 bcm in the next four years.
Ukraine and Russia on Monday, December 30, signed a five-year contract for gas transit to Europe, which will bring Ukraine at least $7 billion, President Volodymyr Zelensky wrote on Facebook.
"End of year, but not of achievements. Ukraine has signed a gas transit contract for five years, during which we will receive at least over $7 billion. The parties may extend the contract for another ten years. The Ukrainian GTS will be loaded, which means energy security and well-being of Ukrainians!" the president wrote.
Zelensky also specified that under the terms of the new deal, the minimum guaranteed volume of gas is 65 billion cubic meters in the first year and 40 billion in the next four years.
Read alsoUkraine, Russia settle on $7.4 bln anti-monopoly claim to Gazprom
In fact, it is possible to transmit even more.
"Europe is aware that we will not fail them on energy security," the president added.
As UNIAN reported earlier, on December 20, following the Ukraine-EU-Russia talks, Minister of Energy and Environmental Protection Oleksiy Orzhel said that the parties had signed a protocol stipulating the implementation of a number of agreements by the parties.
Naftogaz of Ukraine has already received about $2.9 billion from Gazprom in compensation in line with the Stockholm Arbitration award.
Today, on December 30, Ukraine and Russia's Gazprom signed a settlement deal, under which Ukraine waives the fine imposed on the Russian company by the Antimonopoly Committee totaling about $7.4 billion.