Gazprom pays out USD 2.9 billion debt toward Naftogaz

Gazprom has completed a USD 2.9 billion payment to Ukraine’s Naftogaz on the basis of the ruling of the Stockholm Arbitration Court, a spokesman from the Russian company confirmed Friday, Sputnik reports.

According to the spokesman, the payment was made in accordance with terms and dates agreed upon in the protocol signed between the two companies on December 20 in Minsk.

Under the terms of that agreement, following Friday's payment, the companies will agree to waive their claims in any other outstanding legal disputes which have yet to be resolved.

Naftogaz later confirmed that it had received USD 2.9 billion from Gazprom.

– Naftogaz confirms receipt of USD 2.9 billion outstanding compensation from Gazprom – the Ukranian company tweeted.

In a press release, they said that “in total, Naftogaz received USD 5 billion from Gazprom in the result of the transit arbitration.”

Earlier Friday, Russian Energy Minister Alexander Novak announced that starting from January 1, Gazprom and Naftogaz would wipe the slate clean regarding whatever mutual disputes they've had on the issue of gas supplies and transit contractors.

Russia and Ukraine signed a protocol last Friday envisioning the delivery of 65 billion cubic meters of gas through the Ukrainian pipeline network next year, with an additional 40 billion cubic meters per year guaranteed between 2021 and 2024. In addition, the agreement allows for direct gas deliveries to Ukraine at a discounted price on the basis of the country serving as a hub for deliveries to Europe, Sputnik adds.

Gazprom Moscow

Naftogas Ukrajina

Gazprom

Naftogaz

Stockholm Arbitration Court

Alexander Novak

transit of Russian gas through Ukraine