Naftogaz Pledges to Remain Stable Supplier to Europe

Naftogaz Ukrainy has issued a statement on the potential impact on natural gas transit to Europe in the event of sanctions introduced being against Russian companies, stating that operations could be undertaken by companies not affected by the proposed restrictions.

“Transportation of natural gas via the territory of Ukraine to the EU, Turkey and Moldova can be passed to counteragents not subject to sanctions. To do this, any prospective counteragent would have to sign direct agreements with Ukrtransgas, the operator of the Ukrainian gas transport system.”

"Naftogaz of Ukraine confirms its readiness to continue reliable natural gas transit to European consumers," Naftogaz Chair Andriy Kobolyev said.

On Friday, Prime Minister Arseniy Yatsenyuk said that Ukraine may impose sanctions on both Russian individuals and companies, as well as on the transit of Russian gas. The imposition of the sanctions on transit of resources could limit or terminate gas transport services by certain counteragents of Naftogaz of Ukraine and Ukrtransgas.

Germany had expressed concern about the possible implications of the sanctions, urging Ukraine not to block shipments Russian gas and oil supplies to Europe.

“The federal government hopes that Ukraine is not going to implement a measure which Prime Minister Yatsenyuk announced on Friday,” German government’s spokesperson Steffen Seibert said on Monday.