NJSC Naftogaz Ukrainy has confirmed that agreement has been reached to hold a meeting with Russia's Gazprom.

"Naftogaz and Gazprom will meet to discuss the situation. Naftogaz sees no need to cancel contracts and expects Gazprom to implement the Stockholm Arbitration rulings. The parties will discuss Naftogaz's proposal on revising the transit tariff," the Ukrainian company's press service said.

The relevant negotiations should be held this month.

Earlier Russian gas giant's Deputy Chairman Alexander Medvedev told journalists Naftogaz Ukrainy had confirmed its readiness to start talks on the termination of gas supply and transit contracts with Gazprom.

As reported, in late February a long dispute between Naftogaz Ukrainy and Gazprom in the Arbitration Institute of the Stockholm Chamber of Commerce ended. The tribunal obliged Gazprom to pay $4.63 billion to Naftogaz for the shortfall in supplies of the agreed volumes of gas for transit. Thus, according to the results of two arbitration litigations between the companies regarding gas supply and transit, Gazprom is to pay $2.56 billion to Naftogaz.