Ukrtransnafta has extended the transit agreement with Russia for another 10 years

On December 3, 2019, Ukrtransnafta JSC and Transneft OJSC entered into an additional agreement to the agreement on the provision of oil transportation services through the territory of Ukraine, which lasts for ten years – from January 1, 2020 to January 1, 2030. This was reported by the press service of the company.

“The signing of the document took place in accordance with the decision of the shareholder of Ukrtransnafta JSC – NJSC Naftogaz of Ukraine dated November 27, 2019”, the statement said.

The company noted that the basic principles of cooperation between Ukrtransnafta and Transneft remained unchanged, in particular, such as the procedure for paying for services and the mechanism of interaction at the level of technical services of two oil transportation operators.

The company noted that the conclusion of an additional agreement guarantees the safe and stable operation of the oil transportation system of Ukraine on a long-term basis, creates the ground for loading the main pipeline system with transit volumes of oil to European countries and provides a long-term stable source of income for Ukrtransnafta.

Earlier it was reported that the contract for oil transit in 2020 will continue automatically.

Recall that Ukrtransnafta was forced to suspend the operation of Druzhba oil pipeline in April due to the ingress of low-quality Russian oil.

Tags: The Cabinet of Ministers, Naftogaz, contracts, oil, hydrocarbon production, tariffs, legislation, EU, The Minystry of Energy and Coal Mining, Top management, Ukrtransnafta, oil production, drilling, RF, Oil refinery plant, foreign affairs, oil transit

Read also

German gas shortage may prevent exports to Europe
France says it can do without Russian supplies
749 settlements de-energized due to hostilities