Ukraine-Gazprom agreements lay foundation for possible reduction in gas prices - Honcharuk
KYIV. Dec 31 (Interfax) - Agreements signed between Ukraine and Russia on December 30 concerning gas transit to Europe have laid the foundation for a possible reduction in natural gas prices for domestic consumers, Ukrainian Prime Minister Oleksiy Honcharuk said in a video message given to Interfax.
"This [signing] lays an important foundation for a possible reduction in gas prices, which will, no doubt, reflect positively on Ukrainians' regular payments and create an additional competitive advantage for Ukrainian business," he said.
Energy and Environmental Protection Minister Oleksiy Orzhel said that signed transit contract would facilitate market stability and ultimately influence prices for end consumers.
Prime Minister Honcharuk said Ukraine would receive more than $7 billion in gas transit fees thanks to the five-year contract.
"Ukraine will also be able to receive additional fees from European and other companies that book our pipeline capacity," said Naftogaz Executive Officer Yuriy Vitrenko.
Naftogaz CEO Andriy Kobolev said the $2.9 billion received from Russia's Gazprom according to a Stockholm arbitration ruling would be used to improve the country's energy security and finance other strategic projects.