Ukraine: Naftogaz Inks Deal with Statoil for Gas Deliveries in Slovakia

Ukraine has taken a new step in sourcing non-Russian supplies of natural gas, announcing that it has entered into an agreement with Statoil for gas deliveries in Slovakia.
 
Naftogaz of Ukraine and Statoil agreed to deliveries of natural gas via Slovakia, the first such agreement between the two companies. 

The deal expands the pool of gas suppliers to Ukraine and also opens a new market for Statoil which started shipments to Naftogaz on October 1.

Andriy Kobolyev, CEO of Naftogaz, commented on the deal: “The agreement marks a significant breakthrough for Naftogaz. The multiple gas interconnectors that have been built over the last few years in Europe are substantially improving energy security, both for the EU and Ukraine. Working together, ensuring gas flows both ways, will significantly improve the liquidity and the stability of the EU market. We are committed to integrating Ukraine fully into the EU energy market and working with the European Commission and other key actors to do so.”
 
Yuriy Vitrenko, Managing Director, International Business at Naftogaz added: “In a way, this deal is revolutionary to Naftogaz. Within a very short time frame, we have managed to understand and employ standard European gas trading practices, including EFET contracts, and to incorporate these norms into the framework of Ukrainian internal regulations. This deal symbolizes our faith in making change possible in Naftogaz. It also provides tangible proof that our commitment to reform and our ability to operate in accordance with common EU norms is being noticed and respected in the market, gaining us the trust of Western European companies."