Gas transit contract signed: no transit rate increase

UKRAINE - In Brief 01 Jan 2020 by Dmytro Boyarchuk
On December 30 Naftogaz and Gazprom signed a 5-year gas transit contract. A 65 bcm of natural gas will go through Ukrainian pipeline in 2020 and 40 bcm per year through 2021-2024. According to President Zelenskiy Facebook page Ukraine will receive $7 billion for pumping the agreed volume of natural gas. From the number we understand that transit rate was left unchanged despite top officials hinted the transit rate will go up. Against this backdrop we should expect near 25% or $0.8 billion drop on exports proceed from gas transit in 2020.

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