• 3 minutes Boris Johnson taken decision about 5G Huawei ban by delay (fait accompli method)
  • 6 minutes This Battery Uses Up CO2 to Create Energy
  • 10 minutes Phase One trade deal, for China it is all about technology war
  • 12 minutes Trump has changed into a World Leader
  • 6 hours Indonesia Stands Up to China. Will Japan Help?
  • 5 hours Shale Oil Fiasco
  • 6 hours Might be Time for NG Producers to Find New Career
  • 25 mins We're freezing! Isn't it great? The carbon tax must be working!
  • 9 hours Angela Merkel take notice. Russia cut off Belarus oil supply because they would not do as Russia demanded
  • 11 hours Environmentalists demand oil and gas companies *IN THE USA AND CANADA* reduce emissions to address climate change
  • 3 hours Anti-Macron Protesters Cut Power Lines, Oil Refineries Already Joined Transport Workers as France Anti-Macron Strikes Hit France Hard
  • 11 hours Beijing Must Face Reality That Taiwan is Independent
  • 10 hours China's Economy and Subsequent Energy Demand To Decelerate Sharply Through 2024
  • 5 hours Tesla Will ‘Disappear’ Or ‘Lose 80%’ Of Its Value
  • 1 day US Shale: Technology
  • 2 days Swedes Think Climate Policy Worst Waste of Taxpayers' Money in 2019
Could Renewables Overtake Coal In China?

Could Renewables Overtake Coal In China?

As China continues its long…

4 Promising Oil Trends To Watch In 2020

4 Promising Oil Trends To Watch In 2020

It’s no secret that energy…

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
Download on the App Store Get it on Google Play