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Russia and Ukraine gas negotiations underway in Vienna

Earlier, the executive director of the Ukrainian Naftogaz Yuri Vitrenko said that on December 26 the parties would meet to finally agree on the terms of the contracts

© Dmitriy Rogulin/TASS

MOSCOW, December 26. / TASS /. Russian-Ukrainian gas negotiations are underway in Vienna, as part of the agreements already reached on December 20, Gazprom representative told reporters on Thursday.

"Russian-Ukrainian gas negotiations began in Vienna in accordance with the protocol of December 20," he said.

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"The Russian-Ukrainian gas negotiations began in Vienna in accordance with the protocol of December 20," the representative commented. Earlier, the executive director of the Ukrainian Naftogaz Yuri Vitrenko said that on December 26 the parties would meet to finally agree on the terms of the contracts. He expressed hope that the process would end on December 27.

Russian Energy Minister Alexander Novak said he was counting on finalizing gas transit arrangements this weekend.

On December 20, Moscow and Kiev announced the approval of a new gas transit contract (the current contract expires on December 31, 2019) for a period of five years, as well as the settlement of mutual claims between Gazprom and Naftogaz. The parties agreed to waive new mutual claims; withdraw mutual claims; and to ensure payment of about $ 2.9 bln by Gazprom as ruled by the Stockholm Arbitration, and amicable settlement agreement on antitrust proceedings against Gazprom in Ukraine.

According to the agreement, the minimum gas pumping volume will be 65 bln cubic meters of gas in 2020 and 40 bln cubic meters annually in the period from 2021-2024.

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