Ukraine ensures reliable gas transit to European consumers

According to Naftogaz,Ukraine will ensures reliable gas transit to European consumers despite strained relations with Russia.

The draft law of Ukraine 'On Sanctions', which was submitted for the consideration of parliament by the Cabinet of Ministers of Ukraine on 8 August does not envision automatic introduction of economic and restrictive measures.

The law creates legal grounds for introduction of restrictions related to certain types of economic activity, including transportation of energy resources. Such restrictions can be introduced by the National Security and Defense Council (NSDC) following recommendations from parliament, the President, the Cabinet of Ministers, the National Bank of Ukraine or the Security Service of Ukraine.

Imposition of sanctions on transit of resources can limit or terminate gas transport services by certain counteragents of Naftogaz of Ukraine and Ukrtransgas. In this respect, transportation of natural gas via the territory of Ukraine to the EU, Turkey and Moldova can be passed to counteragents not subject to sanctions. To do this, any prospective counteragent would have to sign direct agreements with Ukrtransgas, the operator of the Ukrainian gas transport system.

Naftogaz of Ukraine remains a reliable partner for transportation of natural gas to the EU. During the current crisis, the company has continued to provide quality gas transport services despite extremely strained relations between Ukraine and Russia. Naftogaz has remained fully reliable despite Russia’s termination of gas supplies to Ukrainian consumers in mid-June and the creation of artificial barriers to using existing gas transport facilities flowing from the EU to Ukraine.

"Naftogaz of Ukraine confirms its readiness to continue reliable natural gas transit to European consumers," board Chairperson of Naftogaz of Ukraine Andriy Kobolyev said.

Adapted from press release by Hannah Priestley-Eaton

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