Slovakia, Ukraine Clinch Reverse Flow Deal

Slovakia’s Eustream and Ukraine’s Ukrtransgaz clinched a deal to speed up the launch of reverse flow from Europe to Ukraine. 

‘The parties agreed, that representatives of Eustream and Ukrtransgaz will sign the document on Monday, 28.4.2014 in Bratislava,’ reads a note released on Saturday. 

The two companies met several times. The negotiations, brokered by European authorities, hinged on technical aspects of the implementation of reverse gas supplies from Slovakia to Ukraine.

On 10 April, Prime Minister Robert Fico announced that Slovakia was ready to make steps needed to launch the gas reversal from Western Europe to Ukraine via its territory. However, fearing that the reversal could breach the recently renegotiated Slovakian-Russian gas contract, Fico suggested that Russia should join the talks on the reversal between Slovakia, Ukraine and the European Commission. Fico rejected the allegations that Slovakia had been delaying the launch of the reversal on purpose.

Eustream finally signed a Memorandum of Understanding last Wednesday, but Ukrtransgaz took some time before signing it on Monday.