Tuesday, October 21, 2014

Gas talks: Negotiations to be continued next week

From the Official Website of the European Commission, Statement, Brussels, 21 October 2014:

"At today's gas talks in Brussels, Vice-President Günther H. Oettinger, built on his Berlin proposals and presented ways to secure gas supplies to Europe and the Ukraine during the winter season.

Vice-President Günther H. Oettinger said: "We made another step towards a possible solution and are close to an agreement on important elements. Others still need to be addressed, such as the financial gap."

The following cornerstones are undisputed:

  1. Debts: Ukraine would settle its debts based on a preliminary price of $268,5/ 1000m3 by making payments in two tranches: 1,45 billion $ by the end of October and 1,65 billion $ by the end of the year.

  1. New gas: Ukraine will pay $385/ 1000m3 for gas to be delivered this winter without being subject to take-or-pay obligations. The exact volume has not been agreed yet. Russia will deliver the gas following advanced, monthly payments by Ukraine.

  1. Transit fees: Russia guarantees the payment of the transit fees.

A new round of talks is envisaged for next week, 29 October 2014 in Brussels. Until then, the EU and Ukraine will explore ways how to close the financial gap.

A winter package is necessary as both Ukraine and Russia have referred the dispute to the international arbitration court in Stockholm and a final decision on the price and the debt is only expected next year."

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