Naftogaz revenue from gas transit will not count as payment of debt to Gazprom

14:23, 22.10.2014 1 min read

Naftogaz Ukrainy's revenue from the transit of Russian gas to Europe will not be counted as payment of its debt to Gazprom, Energy Minister Alexander Novak said.

According to earlier reports, the Russian parliament is now debating amendments to the law on currency regulation and currency control, which will enable Gazprom to have mutual settlements with Naftogaz Ukrainy. Among other things, this change envisages the possibility of counting Gazprom's obligations under the contract for the transit of natural gas through the territory of Ukraine against Naftogaz Ukrainy's obligations to pay the debt it has accumulated.

"This issue has been raised. The Gazprom CEO has confirmed that the fees Gazprom pays for transit will go to Naftogaz's accounts in this period for six months. It's an obligation that Gazprom has always fulfilled and will continue to fulfill. There will be no mutual settlements, there will be current payments," the Russian minister said.