• 1 hour Iraq Struggles To Replace Damaged Kirkuk Equipment As Output Falls
  • 6 hours British Utility Companies Brace For Major Reforms
  • 10 hours Montenegro A ‘Sweet Spot’ Of Untapped Oil, Gas In The Adriatic
  • 12 hours Rosneft CEO: Rising U.S. Shale A Downside Risk To Oil Prices
  • 13 hours Brazil Could Invite More Bids For Unsold Pre-Salt Oil Blocks
  • 14 hours OPEC/Non-OPEC Seek Consensus On Deal Before Nov Summit
  • 15 hours London Stock Exchange Boss Defends Push To Win Aramco IPO
  • 16 hours Rosneft Signs $400M Deal With Kurdistan
  • 19 hours Kinder Morgan Warns About Trans Mountain Delays
  • 1 day India, China, U.S., Complain Of Venezuelan Crude Oil Quality Issues
  • 1 day Kurdish Kirkuk-Ceyhan Crude Oil Flows Plunge To 225,000 Bpd
  • 1 day Russia, Saudis Team Up To Boost Fracking Tech
  • 2 days Conflicting News Spurs Doubt On Aramco IPO
  • 2 days Exxon Starts Production At New Refinery In Texas
  • 2 days Iraq Asks BP To Redevelop Kirkuk Oil Fields
  • 3 days Oil Prices Rise After U.S. API Reports Strong Crude Inventory Draw
  • 3 days Oil Gains Spur Growth In Canada’s Oil Cities
  • 3 days China To Take 5% Of Rosneft’s Output In New Deal
  • 3 days UAE Oil Giant Seeks Partnership For Possible IPO
  • 3 days Planting Trees Could Cut Emissions As Much As Quitting Oil
  • 3 days VW Fails To Secure Critical Commodity For EVs
  • 3 days Enbridge Pipeline Expansion Finally Approved
  • 3 days Iraqi Forces Seize Control Of North Oil Co Fields In Kirkuk
  • 3 days OPEC Oil Deal Compliance Falls To 86%
  • 3 days U.S. Oil Production To Increase in November As Rig Count Falls
  • 4 days Gazprom Neft Unhappy With OPEC-Russia Production Cut Deal
  • 4 days Disputed Venezuelan Vote Could Lead To More Sanctions, Clashes
  • 4 days EU Urges U.S. Congress To Protect Iran Nuclear Deal
  • 4 days Oil Rig Explosion In Louisiana Leaves 7 Injured, 1 Still Missing
  • 4 days Aramco Says No Plans To Shelve IPO
  • 6 days Trump Passes Iran Nuclear Deal Back to Congress
  • 6 days Texas Shutters More Coal-Fired Plants
  • 7 days Oil Trading Firm Expects Unprecedented U.S. Crude Exports
  • 7 days UK’s FCA Met With Aramco Prior To Proposing Listing Rule Change
  • 7 days Chevron Quits Australian Deepwater Oil Exploration
  • 7 days Europe Braces For End Of Iran Nuclear Deal
  • 7 days Renewable Energy Startup Powering Native American Protest Camp
  • 7 days Husky Energy Set To Restart Pipeline
  • 7 days Russia, Morocco Sign String Of Energy And Military Deals
  • 8 days Norway Looks To Cut Some Of Its Generous Tax Breaks For EVs

Ukraine to Review Natural Gas Transit Agreements with Gazprom

Ukraine to Review Natural Gas Transit Agreements with Gazprom

Russia's state monopoly Gazprom is nervously contemplating change is in its transit agreements with Ukraine for delivering its natural gas to Eastern European customers.

Ukrainian Prime Minister Mykola Azarov announced that the Ministry of Fuel and Energy state company NAK Naftogaz Ukrainy, is to be liquidated and all agreements signed in its name will be reviewed.

Azarov told journalists that Ukrainian President Viktor Yanukovych instructed the government to prepare a draft program for reform of NAK Naftogaz Ukrainy by 1 October, stating, "There will be a liquidation period, and a certain time after all necessary formalities are completed, entirely new companies will operate on this market. And in view of this, all agreements that exist today will be reviewed."

In the Ukrainian government restructuring NAK Naftogaz Ukrainy, drilling and transport companies will be separated out from it. Azarov added, "It is entirely obvious that there will be an independent gas drilling company, and an independent company that will deal with transit of gas, and in view of this it is necessary to re-conclude certain agreements, because there will be a new subject of economic management," Gazeta.ru website reported.

In discussing NAK Naftogaz Ukrainy-Gazprom contracts, Azarov observed, "Most regrettably, this agreement from 2004, which has the force of an interstate agreement and stands above intra-national laws, has never once been fulfilled. Therefore, we believe that the contracts that were concluded in 2009 contradict at least that portion that concerns annual volumes of gas deliveries."

By. Charles Kennedy, Deputy Editor OilPrice.com



Join the discussion | Back to homepage

Leave a comment

Leave a comment

Oilprice - The No. 1 Source for Oil & Energy News