EU, Ukraine and Russia agree on terms of gas deliveries for next heating season

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The FINANCIAL — The European Commission, the Russian Federation and Ukraine have agreed on the terms of gas deliveries to Ukraine for the next heating season until the end of March 2016 after several rounds of trilateral and bilateral negotiations over the last months.

“The agreement on the terms of the new Winter Package is a crucial step towards ensuring that Ukraine has sufficient gas supplies in the coming winter and that there is no threat to the continued reliable gas transit from Russia to the EU,” European Commission Vice-President for the Energy Union Maroš Šefčovič said in statement.

All sides have agreed that the “Ukrainian side commits to securing natural gas transit through its territory to the EU, including via injecting 2 bcm of natural gas into underground storage still in October 2015”, according to EU Neighbourhood Info.

In turn, Russia “commits to lowering the gas price to Ukraine, by means of decreasing the export duty, to a competitive level comparable to the neighbouring EU countries both in the 4th quarter 2015 and in the 1st quarter 2016.”

 

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