Three-way talks – EU, Russia, Ukraine – are to start in two weeks on renewing Gazprom’s gas transit contract with Naftogaz

Wednesday, September 4, 2019
Three-way talks – EU, Russia, Ukraine – are to start in two weeks on renewing Gazprom’s gas transit contract with Naftogaz

Three-way talks – EU, Russia, Ukraine – are to start in two weeks on renewing Gazprom’s gas transit contract with Naftogaz. With about one-third of Russia’s gas exports to the EU crossing Ukraine, the EU wants a minimum future flow, probably 40 bcm a year. To prepare for the talks, Ukraine has doubled its gas stocks since last spring. The current storage level of 18.3 bcm is almost enough to get through a normal winter heating season. Natural gas prices in Europe are at a 10-year low.

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