January 2011 Vol. 238 No. 1

Projects

Agreements Announced Over "Gas War" Aftermath

The complex dispute over ownership of 11 Bcm of gas in storage — a byproduct of the January 2009 Russia-Ukraine “gas war” — moved one step closer to a final resolution when Gazprom, Naftogaz Ukrainy, and
former intermediary RosUkrEnergo (RUE) announced a package of agreements designed to end uncertainty and avert a potential new interruption in Russian gas supplies to Europe.

The agreements between Gazprom, Naftogaz Ukrainy, and RosUkrEnergo will see Naftogaz return 12.1 Bcm of gas to the former intermediary in the Russia-Ukraine gas trade as stipulated in a June 2010 ruling by an arbitration court in Sweden.