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Tue, 12/25/2018 - 09:01

Russia Guarantees Gas Deliveries to EU in Absence of Transit Agreement With Kiev

MOSCOW (Sputnik) - Russia is ready to ensure gas deliveries under long-term contracts to the European Union even in absence of a new agreement on gas transit with Ukraine by December 2019, Russian Energy Minister Alexander Novak said. "Under any circumstances, we guarantee the deliveries of Russian gas under long-term contracts signed by Gazprom. In this sense European consumers will be provided with the needed volumes [of gas]," Novak said answering a question of Russia's Kommersant newspaper regarding Russia's plans on further gas deliveries to Europe in absence of a new contract on gas transit with Ukraine by December 2019. The Russian energy minister stressed that a constructive dialogue with Ukraine was hampered by the legal dispute between Ukraine's Naftogaz energy company and Russia's Gazprom energy giant over the deliveries and transit of the Russian gas. Novak also said that the Russian internal market of petroleum products became premium compared to external one, commenting on the agreement to stabilize prices in the fuel market reached by the Russian Energy Ministry, the Federal Antimonopoly Service (FAS) and Russian oil companies. In early November, the Russian Energy Ministry, the FAS and Russia's 10 big oil companies signed an agreement to stabilize fuel market that will be valid during the period from November 1 to March 31, 2019. "Despite the fact that the agreement will be in place until March, the market already operates in different conditions: oil price decreased more than by $20 per barrel, subsequently, petroleum products price… is much lower than the figure enshrined in the agreement… Now the internal market [of oil products] is premium," Novak stated. Read more: