Friday, October 31, 2014

Russia Ukraine and EU agree gas supply deal (Günther H. Oettinger /EC)

From the Official Website of the European Commission, Press release, Brussels, 30 October 2014:

"After seven rounds of gas negotiations, last night's talks moderated by Günther H. Oettinger, Vice-President of the European Commission, yielded finally a breakthrough: A 4,6 billion dollar winter package, agreed by Russia and Ukraine, secures gas for Ukraine - and ultimately also for Europe.

José Manuel Barroso, President of the European Commission who witnessed today's signing of the winter package, said: "I am delighted that I can announce a major success at the end of my mandate as President of the European Commission. With our strong support, Ukraine and Russia have today found agreement on their outstanding energy debt issues, and on an interim solution that enables supplies to continue this winter. I am glad that political responsibility, the logic of cooperation and simple economic sense have prevailed."
Günther H. Oettinger, Vice-President of the European Commission, said: "This breakthrough will not only make sure that Ukraine will have sufficient heating in the dead of the winter. It is also a contribution to the de-escalation between Russia and Ukraine."
The winter package consists of two documents: 
  1. A binding protocol, signed by the European Commission (Vice-President Oettinger), the Russian Federation (Energy Minister Alexander Novak) and Ukraine (Energy Minister Yuri Prodan);
  2. An addendum to the existing gas supply contract, signed by Gazprom of Russia (CEO Alexey Miller) and Naftogaz of Ukraine (CEO Andriy Kobolyev);
The package covers the period from now until the end of March 2015 and includes the following main points:
  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 dollar without delay, and 1,65 billion dollar by the end of the year 2014. This adds in total up to 3,1 billon dollar of debt payment. The final price and thus the final sum of debt will be determined through the pending arbitration by the Arbitration Institute of the Stockholm Chamber of Commerce between Gazprom and Naftogaz.
  2. New gas: Russia will deliver gas following advanced, monthly payments by Ukraine. The price is below $385/ 1000m3 and calculated according to a formula in the present contract and a price reduction through a discount in export duties by the Russian Federation. Ukraine is free to order as much gas as it needs and is not subject to take-or-pay obligations foreseen in the current contract. Ukraine foresees to purchase 4 bcm until the end of the year 2014, meaning 1,5 billion dollar.
In the last weeks, the European Commission has been working intensively with the International Financial Institutions (IFI) and Ukraine to help Ukraine prepay for deliveries of gas in the coming winter. Unprecedented levels of EU aid will be disbursed in a timely manner, and the International Monetary Fund (IMF) has reassured Ukraine that it can use all financial means at its disposal to pay for gas. Further work with the IFIs on financial assistance to Ukraine, also in relation to gas supplies, will still continue, but all three sides are reassured that Ukraine will have the necessary financial means."
   http://europa.eu/rapid/press-release_IP-14-1238_en.htm?locale=en
   30/10/14 
--
-
Related:

3 comments:

  1. Ukraine/gaz : Moscou baisse son tarif de 100 dollars ...

    La Russie, l'Ukraine et l'UE ont signé à Bruxelles des documents sur les livraisons du gaz russe à l'Ukraine pour la période entre novembre et avril prochain.

    L'Ukraine devra rembourser d'ici fin d'année 3,1 milliards de dollars d'impayés sur un total de 5,3 milliards et prépayer l'achat des quantités de gaz supplémentaires pour l'hiver.

    Moscou accorde à Kiev une remise de 100 dollars pour 1 000 mètres cubes ce qui porte le tarif à 385 dollars. L'Ukraine a confirmé qu'elle disposait de finances pour les livraisons de 4 milliards de mètres cubes de gaz. D'après les évaluations préliminaires, le prix du gaz russe en novembre-décembre constituera 378 dollars/1 000 m3.

    Les principales sources de financement des fournitures de gaz pour l'Ukraine sont un programme du FMI en vigueur, un fonds spécial, l'utilisation par Naftogaz de ses réserves et l'aide de l'UE.
    Lire la suite: http://french.ruvr.ru/news/2014_10_31/Ukraine-gaz-Moscou-baisse-son-tarif-de-100-dollars-0100/
    31/10/14

    ReplyDelete
    Replies
    1. Russian Prime Minister Signs $100 Discount on Russian Gas Supplies to Ukraine...

      MOSCOW, November 1 (RIA Novosti) - Russian Prime Minister Dmitry Medvedev has signed a decree according to which a $100 discount will apply on export tariffs if the price for 1,000 cubic meters of gas supplies to Ukraine is $333.3 and more.

      "The signed decree prescribes, on a temporary basis until March 31, 2015, a special procedure for calculating the rates of export tariffs depending on the level of the contract price for the natural gas delivered from the territory of the Russian Federation to the territory of Ukraine," the decree said.

      According to the document, a discount of $100 will apply if the price for 1,000 cubic meters of gas stands at $333.3 and more. Should the price be less than $333.3, the discount will form only 30 percent of the price.

      "The current decree shall apply to the legal relations arising from November 1, 2014," the decree added...................http://en.ria.ru/business/20141101/194962393/Russian-Prime-Minister-Signs-100-Discount-on-Russian-Gas.html
      1/11/14

      Delete
  2. Settlement of remaining Ukraine debt to be discussed after Stockholm arbitration decision ...

    Settlement of remaining Ukrainian debt for the Russian gas will be discussed after a decision of Stockholm’s arbitration, Russia’s Minister of Energy Alexander Novak told reporters on Friday.

    Ukraine’s Naftogaz and Russia’s Gazprom will continue arbitration court procedures, he said.

    “The invoices were based on the prices for each month of supplies. The invoices for November-December 2013 were based on the price of about $389 per 1,000 cubic metres, for April-May-June — on about $495. This very difference between the invoiced $5.3 billion and the $3.1 billiob, which we have agreed would be settled before the end of December, is not disappearing. We have agreed now that the issue of settling this overdue payment would be discussed after a decision of Stockholm’s arbitration. In case of a final decision, we may correct respectively the overdue payment,” the Russian minister said.
    http://en.itar-tass.com/economy/757554
    31/10/14

    ReplyDelete

Only News

EL News

Δημοσιεύτηκε από Geo Kok στις Πέμπτη, 11 Φεβρουαρίου 2021
Δημοσιεύτηκε από Geo Kok στις Παρασκευή, 12 Φεβρουαρίου 2021
Δημοσιεύτηκε από Geo Kok στις Πέμπτη, 11 Φεβρουαρίου 2021
Blog Widget by LinkWithin