Russia Proposes Extending Gas Contract with Ukraine

Russia proposed extending its current gas transit contract with Ukraine on a temporary basis at three-way talks with Ukraine and the European Union in Brussels on Thursday, Russian Energy Minister Alexander Novak said. He noted that Moscow was ready to reserve transit capacities from 2020, if Kyiv implements European standards in its laws. However, there are no guarantees yet, the minister added. Novak stressed that Moscow was ready to extend the transit agreement for any period necessary for Kyiv to include EU legislation in its legal system. The Minister emphasized that in 2020 Russia will supply European consumers the entire volume of gas contained in the contracts. Russian Energy Minister called the talks of Russia, Ukraine and the European Commission as constructive. He said that the parties discussed, among other things, the possible volumes of gas supplies, the litigation of Naftogaz and Gazprom. Novak noted the positive attitude at the meeting and expressed confidence that the parties would find all solutions. In turn, the Minister of Energy and Environment of Ukraine Oleksiy Orzhel told reporters that the risk of not signing a new agreement remains. Ukrainian Energy Minister Oleksiy Orzhel in his turn said there was still a risk Russian gas deliveries could be interrupted. Ria Novosti