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Monday, August 21, 2017

Ukraine poised to sign gas supply agreement with Russia

Ukraine is poised to sign a gas agreement with Russia based on proposals made by the European Commission during negotiations in Kiev.

The commission proposed a repayment scheme in which Ukraine would pay Russian gas giant Gazprom $1 billion, settling the rest in six payments over the rest of the year, News.az reports.

The commission also recommended that the price be adjusted according to seasonal demand, meaning $300 per 1,000 cubic meters of gas during the summer and $385 during the winter.

Ukraine is continuing to consult with the commission and anticipates that the next meeting on a gas deal will occur later this week, according to News.az.

Russian Energy Minister Alexander Novak has said the talks could move forward only after Ukraine repays its outstanding debt for gas.