Brussels, 02/04/2015 (Agence Europe) - On Thursday 2 April, the Russian gas company Gazprom agreed to extend the winter package for gas supplies to Ukraine by three months, including a reduced price.
Gazprom and its Ukrainian partner, Naftogaz, on Thursday signed a technical addendum to their gas contract, laying down the price of Russian gas to Ukraine at $248 per 1000 m3 until June (down from $329 in the winter package) and extending key elements of the winter package, which was concluded in October 2014 under the mediation of the Commission, and which expired on 31 March.
“This short-term extension of the winter package gives the parties additional time to develop a longer-term solution”, said the CEO of Naftogaz, Andriy Kobolyev.
This extension has the unreserved support of the EU, as it hopes that Ukraine will be able to build up its gas reserves, which are expected to fall to 6.5 billion m3 in April, by the winter. The level required in order to ensure the continuous transit of Russian gas destined for the EU is 20 billion m3. This is vital, as nearly half of Russian gas consumed in Europe transits via Ukraine.
The EU also hopes to secure an agreement from Russia and Ukraine to run until the end of 2006, when the International Court of Arbitration of Stockholm, to which the two parties brought their old dispute over Naftogaz's payment arrears to Gazprom, is due to return its verdict.
The three parties will meet again at ministerial level in mid-April. (Emmanuel Hagry)