Ukraine and Russia Extended Oil Transit Agreement for Ten Years
OREANDA-NEWS. On December 3, the companies Ukrtransnafta (Ukraine) and Transneft (Russia) signed an additional agreement to a contract on oil transit through the territory of Ukraine, which extends it for ten years. The message about it was published on the Facebook page of Ukrtransnafta.
The contract is extended until January 1, 2030. It was signed by the General Director of Ukrtransnafta Nikolay Gavrilenko and the Vice President of Transneft Sergey Andronov at the international conference “Energy in the 21st Century” in the city of Zagreb (Croatia).
The message says that “beside the extension of the contract, an additional agreement actualizes a number of its provisions.” The representatives of the Ukrainian company noted that the changes did not affect the basic principles of the contract: the procedure of payment for services and the interaction of technical services of two oil transportation operators.
The agreement on the transportation of Russian oil through the territory of Ukraine was valid until December 31, 2019. In May, Gavrilenko said in an interview with Interfax Ukraine news agency that the company plans to prolong the contract with Transneft in June for ten years. He noted that there are no prerequisites not to do it. Gavrilenko also reported that the companies are discussing the law used in the contract. At the moment, Russian legislation is used. The Ukrainian party insisted that the contract ought to be concluded under British legislation.Earlier, Ukrtransnaft said that for ten months of 2019, the company transported 12.606 million tons of oil for European and Ukrainian consumers, transit amounted to 10.637 million tons.