Russia-Ukraine Reach Preliminary Agreement on Interim Gas Price
Source: Bloomberg
By Ewa Krukowska, Elena Mazneva and Brian Parkin Sep 26, 2014 11:36 AM ET
Russia and Ukraine reached a preliminary natural-gas agreement -- valid for this winter only -- potentially ending a dispute that was set to disrupt European flows during the coming months.
If approved, Ukraine will pay $3.1 billion by the end of the year for previously delivered supplies and Russia in return will provide at least 5 billion cubic meters of gas to Ukraine in the coming months, European Union Energy Commissioner Guenther Oettinger said today in Berlin following talks with the Russian and Ukrainian energy ministers. National leaders of both countries must still sign off on the deal, Oettinger said.
“I’ve experienced tough but constructive negotiators over the past weeks,” he told reporters in Berlin. “Avoiding gas shortages is in the interest of all those involved.”
Under the deal, Ukraine would pay $385 per 1,000 cubics meters for gas for the next six months. The agreement is at the price that Russia’s OAO Gazprom (GAZP) had said was its final offer and at the highest level the EU had previously said should be paid.
Read more: http://www.bloomberg.com/news/2014-09-26/russia-ukraine-reach-preliminary-agreement-on-interim-gas-price.html
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