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Ukraine to pay for Russian gas in advance — protocol

October 31, 2014, 14:46 UTC+3 KIEV
The discount Russia will grant to Ukraine will amount to $100 or 30% of the cost, depending on the gas price
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Russia's Energy Minister Alexander Novak, EU Energy Commissioner Guenther Oettinger, Ukraine's Energy Minister Yury Prodan at the three-party gas talks in Brussels

Russia's Energy Minister Alexander Novak, EU Energy Commissioner Guenther Oettinger, Ukraine's Energy Minister Yury Prodan at the three-party gas talks in Brussels

© EPA/THIERRY CHALIER / EUROPEAN COMMISSION

KIEV, October 31. /TASS/. The price of Russian natural gas for Ukraine in the fourth quarter of 2014 and the first quarter of 2015 will be reduced by the size of an export duty discount, which will be granted by Russia’s government, according to a protocol published in Friday.

The protocol signed in Brussels on Thursday at the three-party gas talks between Moscow and Kiev with the EU’s mediation on Russian natural gas supplies to Ukraine was posted on the Ukrainian government’s website.

Under the protocol, the export duty reduction will be calculated under the following formula: “If the price is $333.33 and more per 1,000 cu m, the discount will amount to $100. If the price is lower than $333.33, the discount will equal 30% of this price,” the protocol says.

The document says that Ukraine will make payments for natural gas before it is supplied.

Under the protocol, Gazprom undertakes to supply all prepaid gas volumes in compliance with the Contract and its Addendum of October 30, 2014 during the specified period - from November 2014 to March 31, 2015. Gazprom will give up the “take or pay” principle in gas deliveries.

Russia, Ukraine, EU hail the gas agreement

The leaders of Russia, Germany, France and Ukraine have also welcomed the agreements on conditions of supplies and transit of Russian natural gas to Ukraine, the Kremlin press service announced Friday.

“The leaders hailed the agreements reached on the conditions of supplies and transit of Russian natural gas to Ukraine. This is an important step for ensuring further uninterrupted gas transit to Europe,” the press service said.

EU energy commissioner Guenther Oettinger, who is leaving the office on Friday, hopes that the new agreement on gas will help improve relations between Russia and Ukraine.

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