Naftogaz offers Gazprom swap contract instead of transit as backup option

17:26, 18.06.2019 1 min read

NJSC Naftogaz Ukrainy in case of problems with unbundling and/or unwillingness of Gazprom (Russia) to undertake the risks, associated with the Ukrainian regulator and the operator of the gas transportation system, will offer the Russian company a fallback option – gas swap, Naftogaz Executive Director Yuriy Vitrenko has said.

"Gazprom will transfer us a certain amount of gas [a certain energy value of gas] on the Ukraine-Russia border, and we will transfer exactly the same amount [energy value] on the Ukraine-EU border," he wrote on his Facebook page.

According to Vitrenko, the transfer of gas will be confirmed by adjacent operators (Slovakia, Hungary, Poland, Romania).

"Such contracts for gas swap are relatively common for the European market [perhaps for Gazprom too]. That is, such a contract can be signed according to European rules, they are just different for gas swap and gas transportation contracts," he stressed.