REUTERS
This will keep coming up so long as Moscow and Kyiv remain strange bedfellows, but Ukraine’s state run gas company and Russia’s Gazprom signed a deal on Tuesday to supply fuel to Ukraine, according to Forbes.
Ukraine Energy Minister Volodymyr Demchyshyn agreed on the terms set forth between his country and Aleksander Novak, the Russian Energy Minister and defacto representative of gas giant Gazprom, Forbes reports.
Maros Sefcovic, Vice-President of the European Commission, mediated the deal. The E.C. has been mediating between the two sides since 2014, when the toppling of a pro-Russian government in Kyiv led to a drastic move westward.
This is the second so-called “winter package”, which guarantees gas shipments to Ukraine over a three month period starting in December.
In a statement, Naftogaz said that all key components of the gas supply agreement between Naftogaz and Gazprom have been agreed upon. The signing of the Addendum is linked to the signing of the binding trilateral protocol by duly authorized representatives of Ukraine, Russia and the E.C. Russia and Europe signed the protocol this week, with Russia signing it in Moscow on Wednesday, state media reported.
While this is all good news for Gazprom stock, the over-the-counter shares of the firm barely budged within the first hour of trading on Wednesday. In New York, Gazprom rose 0.87% while on the RTS Micex board in Moscow, the stock closed 0.89% higher. Gazprom is up 3.15% year-to-date in rubles. A strong dollar has hurt U.S. investors most. The stock is down over 10% year-to-date as weak oil prices and sanctions continue to flatten Gazprom’s tires.