12:31 10.07.2019

NBU predicts fall in revenue from gas transit by $1 bln

2 min read
NBU predicts fall in revenue from gas transit by $1 bln

The National Bank of Ukraine (NBU) includes the fall of revenue from gas transit by $1 billion for 2020 in its projections, NBU Deputy Governor Dmytro Sologub has said in an interview with Interfax-Ukraine.

"For the time being, we include minus $1 billion from a decrease in transit in the forecast (for 2020). This affects the macroeconomic parameters, but not fatally," he said.

At the same time, Sologub said that the National Bank assesses other options for the development of events, in particular, the complete absence of transit of Russian gas through the territory of Ukraine.

"There are other questions about the situation if there is no contract and no transit. How then will gas be delivered in Ukraine and how will Ukraine buy gas in general? We are analyzing these issues. There are two scenarios: the first is OK, there is the Nord Stream 2, there is a contract, but volumes are smaller. The second is when there is no contract and no transit. We are certainly assessing all these things," Sologub said.

As reported, on January 1, 2020, the 10 year transit contract between Naftogaz Ukrainy and Russia's Gazprom expires. The latter is currently strenuously promoting the Nord Stream 2 and Turkish Stream projects.

The option of stopping Russia's natural gas transit through Ukraine in 2020 after completing the Nord Stream 2 gas pipeline is considered to be the main one by Naftogaz.

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