11:57 02.04.2015

Next contract with Gazprom valid until Stockholm arbitration decision - Naftogaz

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Next contract with Gazprom valid until Stockholm arbitration decision - Naftogaz

The agreement signed by Naftogaz Ukrainy and Gazprom on April 1 on natural gas supplies in the second quarter of 2015 gives the parties time to agree on the terms of the next interim agreement, which will be valid until the trial in the Arbitration Institute of the Stockholm Chamber of Commerce has been completed, the state holding's press service has reported.

"It is expected that the next temporary agreement will establish the principles of Russian gas supplies until proceedings regarding the gas supply contract between Naftogaz and Gazprom in the Stockholm Arbitration Institute are completed," reads the statement issued by the press service.

The press service said that a supplementary agreement to the contract on gas supplies dated April 1 provides for the extension of key elements of the Brussels agreements until late June 2015.

In particular, this agreement extends the provisions relating to the pricing mechanism, the means of payment and gas extraction. The expected price for Naftogaz for the second quarter is $248 per 1,000 cubic meters.

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