Ukraine Negotiates Reverse Flow With Slovakia

While Gazprom tries to diversify its investments and Western companies are increasingly looking at investment opportunities in Asia, Ukraine started talks on importing natural gas from the European Union via Slovakia. 

Ukraine’s Urtansgas and Slovakia’s Eustream failed to clinch an agreement last week. The EU is now brokering the deal, while the International Monetary Fund is moving closer to an agreement with Ukraine for a $15-20 billion loan. 

EU Energy Commissioner Guenther Oettinger said last week he expected a memorandum between Ukraine and Slovakia to be signed before the end of April. 

If the two companies found an agreement, exports from EU to Ukraine could be as high as 15 billion cubic meters, covering 30% of Ukraine’s needs.

Meanwhile, Gazprom is trying to strengthen its ties with Kuwait. 

‘The parties looked into the prospects for the bilateral cooperation in the oil and gas sector. In particular, they addressed the cooperation broadening as part of Gazprom's LNG supplies to Kuwait as well as the joint projects implementation,’ reads a note released on Tuesday.