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Ukraine Russia Sign 10-Year Oil Transit Agreement

“After five days of uninterrupted bilateral talks in Vienna, final decisions have been taken and final agreements have been reached,” Gazprom chief Alexei Miller said in a statement. The agreements do not deal with the complaints filed by the Naftogaz group against the Russian Federation concerning the group`s stolen assets in Crimea. In a television interview on 30 November, Mr Orzhel said that if, as part of a complex package with the future of Russian gas transit to Europe, the two countries were negotiating direct deliveries via Ukraine – that is how Russia would discuss it – the price of Russian gas purchased directly must be mandatory and linked to European indicators. London – Russia`s Gazprom presented a formal proposal to Ukraine`s Naftogaz Ukrayiny on Monday to enter into a one-year gas transit contract, either as a renewal of the parties` 10-year contract or as part of a new agreement. BUCHAREST (ICIS) – Ukraine and Russia have signed a five-year transit agreement for guaranteed minimum amounts from 2020, Ukraine`s Naftogaz confirmed late Monday. Ukrainian oil transit company Ukrtransnafta and Russia`s Transneft have signed a 10-year agreement guaranteeing the transit of oil by Ukrainian pipelines for at least the next decade. The agreement means the resumption of oil transit after its suspension by Russia in April 2019, in response to allegations of contamination by European buyers. It has already signed interconnection agreements with Hungary, Moldova, Romania and Poland. It was also expected to sign an interconnection agreement with Slovakia, although it is not certain that the agreement was reached by 30 December. Slovakia itself, as a long-term transit agreement with Gazprom, expires in 2028. The European Union feared that Russian deliveries via Ukraine would be suspended if the current agreement expires in the absence of a new agreement.

As Ukraine and the EU work to reach a long-term agreement, the Russian government has proposed renewing the current agreement or signing a short-term agreement for next year and abandoning all legal claims between Naftogaz and Gazprom. The new deal comes days after Gazprom paid $2.9 billion to Naftogaz in Ukraine to settle a long-running transit rights dispute that blocked the deal. BUCHAREST (ICIS) — Ukraine and Russia on Friday signed a protocol for the transit of gas to Europe from January 1, 2020.

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