Today, Gazprom, Naftogaz Ukrainy and RosUkrEnergo have signed a package of documents stipulating the full and definite settlement of the 7.8 bcm of Russian gas stored in Ukrainian UGS facilities problem.

In accordance with the documents signed, Naftogaz Ukrainy received 2.55 bcm of gas as partial settlement of the Russian gas transit over 2005 services.

Moreover, Russian gas transit via the Ukraine will be increased by 8 and 8-11.5 bcm, in 2005 and 2006, respectively, versus the schedule set earlier.

Under the documents, Gazprom sold 5.25 bcm of the Russian gas clustered in Ukrainian UGS facilities to RosUkrEnergo that would receive said amount (to be withdrawn out of Ukrainian UGS facilities between 2005 and 2006) from Naftogaz Ukrainy.

At the end of the ceremony, the parties stated that the documents had been signed on the mutually beneficial market terms and were a launching pad for deeper long-term cooperation.

DIVISION OF RELATIONS WITH MASS MEDIA

PRESS CENTER OF NAFTOGAZ UKRAINY