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MOSCOW, June 26 (Itar-Tass) -- Russia's major producer and exporter of natural gas, OAO Gazprom, will make an advanced payment of $ 1 billion to the Ukrainian oil and gas monopoly, Naftogaz Ukrainy, for the transits of Russian gas to Europe.
"The monies are meant for the purchases of gas by the Ukrainian company from Gazprom and for pumping it into gasholder facilities on the territory of Ukraine," the Russian corporation said in a press release. "A timely implementation of plans for pumping gas into storage facilities is essential for the fullfilment of Naftogaz Ukrainy's pledged for an uninterrupted transit of Russian gas to Europe during the winter months."