Gazprom Pays $2.9 Billion to Ukraine's Naftogaz
12/29/2019
(Reuters) – Russian gas giant Gazprom announced Friday that it has paid US$2.9 billion to Ukraine's state-owned gas company, Naftogaz, in accordance with a ruling made by the Arbitration Institute of the Stockholm Chamber of Commerce.
Russia and Ukraine signed a protocol last week, agreeing on terms for the transit of Russian gas to west Europe through Ukraine.
According to the protocol, Gazprom will pay 2.9 billion U.S. dollars as compensation to Ukraine by Dec. 29, so as to settle a long-running dispute over transit fees for gas transported to west Europe.
Ukraine is a key transit route for Russian gas to west Europe. The protocol will enter into force on January 1 and will last for five years.
Related News
Related News
Sign up to Receive Our Newsletter
- Kinder Morgan Proposes 290-Mile Gas Pipeline Expansion Spanning Three States
- Valero Plans to Shut California Refinery, Takes $1.1 Billion Hit
- Three Killed, Two Injured in Accident at LNG Construction Site in Texas
- Tallgrass to Build New Permian-to-Rockies Pipeline, Targets 2028 Startup with 2.4 Bcf Capacity
- TC Energy Approves $900 Million Northwoods Pipeline Expansion for U.S. Midwest
- U.S. Pipeline Expansion to Add 99 Bcf/d, Mostly for LNG Export, Report Finds
- Enbridge Adds Turboexpanders at Pipeline Sites to Power Data Centers in Canada, Pennsylvania
- Great Basin Gas Expansion Draws Strong Shipper Demand in Northern Nevada
- Cheniere Seeks FERC Approval to Expand Sabine Pass LNG Facility
- Heath Consultants Exits Locate Business to Expand Methane Leak Detection Portfolio
Pipeline Project Spotlight
Owner:
East African Crude Oil Pipeline Company
Project:
East African Crude Oil Pipeline (EACOP)
Type:
TotalEnergies in discussions with a Chinese company after Russian supplier Chelpipe was hit by sanctions.
Length:
902 miles (1,443 km)
Capacity:
200,000 b/d
Start:
2022
Completion:
2025
Comments