OREANDA-NEWS. November 25, 2008. The Gazprom Headquarters hosted today a working meeting between Alexey Miller, Chairman of the Company’s Management Committee and Oleg Dubina, Chairman of the Board of NAK Naftogaz Ukrainy. The parties discussed the present situation related to NAK Naftogaz Ukrainy’s payment default for the supplied gas.

The accord was achieved that NAK Naftogaz Ukrainy would fully settle its debt before December 1, 2008 for the gas delivered in September 2008 and partially repay its debt for the gas delivered in October the same year. Thereafter, the parties will resume negotiations with regard to implementing the provisions of the Intergovernmental Memorandum of Cooperation in the gas sector dated October 2, 2008. It was underscored at the negotiations that under the Memorandum a transition to direct long-term contracts between Gazprom and NAK Naftogaz Ukrainy was possible only on the condition that the Ukrainian party cleared its arrears in full.