Bank Of Baku

Gazprom, Ukraine’s Naftogaz agree on ruble deals

Gazprom, Ukraine’s Naftogaz agree on ruble deals
# 06 December 2011 00:49 (UTC +04:00)
Baku-APA. Russia’s gas monopoly Gazprom and Ukraine’s Naftogaz on Monday signed a deal enabling the Ukrainian company to pay for Russian gas shipments in Russian rubles, APA reports quoting Ria Novosti.

The agreement was signed by Gazprom’s CEO Alexei Miller and Ukrainian Energy and Coal Minister Yuriy Boyko.

They also discussed bilateral cooperation, suggesting that negotiations on Russian gas prices for Ukraine could be completed before the end of the year.

Ukraine has been seeking a review of the 2009 gas deal with Russia since last spring, saying the price formula is unfair. Russia has tied the gas price to the international spot price for oil, which has been rising strongly recently.
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