Russia, Ukraine Sign Two Documents Outlining Conditions of ‘Winter Package’ Gas Deliveries

2014/10/30

Updated 02:54 a.m. Moscow time.


BRUSSELS, October 31 (RIA Novosti) - Russia, Ukraine and the European Union have signed a so-called winter package agreement on gas deliveries, which embodies resumption of Russian gas deliveries to Ukraine and uninterrupted transit of gas to the EU during the winter months.


Russia’s energy giant Gazprom and Ukrainian Naftogaz have signed an addendum to the contract, securing conditions for gas deliveries up until March 2015.


Up until today, Ukraine has received gas only through reverse flows as Russian energy giant Gazprom, switched the country to a prepayment system over its gas debt of more than $5 billion.


In September, Russia and the European Commission proposed the so-called winter package, according to which Ukraine should pay $3.1 billion of its debt to Russia by the end of the year in exchange for gas deliveries during the winter period.


Ukraine is not only a consumer, but also a transit country for Russian gas. Around half of Russian gas, exported in 2013, crossed Ukraine, which amounts to approximately 15 percent of European consumption, according to the International Energy Agency. As the winter drew closer, the EU got particularly worried about possible interruption of gas deliveries to the bloc member countries due to unstable situation in Ukraine.



No comments :

Post a Comment