MOSCOW (Pakistan Point News / Sputnik - 31st December, 2019) European Commission Vice President Maros Sefcovic has praised on Tuesday the signing of the contract on transit of Russian gas via Ukraine's territory.
On Monday, Russia and Ukraine signed a set of documents ensuring transit of Russian gas via the Ukrainian territory starting from January 1. According to the transit contract, which was concluded for five years, Gazprom will deliver at least 65 billion cubic meters (over 2 trillion cubic feet) in 2020 and 40 billion cubic meters (1.5 trillion cubic feet) per year thereafter for four more years.
"My strong appreciation for all the hard work and effort! Building on last week's political deal between #Russia, #Ukraine and the @EU_Commission, the transit contract between respective companies - securing continuous gas flows to Europe as of 1/1/2020 - is now signed and sealed," Sefcovic wrote on Twitter.
On December 20, Russia and Ukraine signed a gas cooperation protocol to secure Russian gas transit after the expiration of the current contract. Gazprom said it would settle court disputes with Ukraine's Naftogaz and anti-monopoly disputes with Kiev by December 29. Moreover, Moscow and Kiev agreed to reset all reciprocal claims to zero starting January 1 and to remove asset freezes under court rulings in legal claims.
