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Russian news agencies reported on Saturday that Gazprom will pay $2.9 billion to Ukrainian energy firm, Naftogaz to put an end to a long-running dispute over transit fees for gas transferred to Europe. CEO, Gazprom said that in return for the payment Naftogaz had agreed to drop all other legal action. The existing transit contract between the two ex-Soviet nations elapses at the end of the year.
NordStream 2 pipeline has been under severe criticism from a long period of time. Previously, Ukraine’s ambassador to Germany stated that the fellow nation should put this pipeline project on hold after Russia’s act of seizing three Ukrainian ships near Crimea. But, Germany is unaffected by any criticism regarding NordStream 2 which will transport gas to Europe, bypassing Ukraine. Germany’s government spokesman informed that Ukraine will remain a transit country.
Trade house Socar Ukraine, reportedly, imported close to 250 million cu m of natural gas in the first half of 2018, and became the leader in gas import to Ukraine. According to a report released by SOCAR Energy Ukraine, the gas import was 4-fold more versus the 2017 same term. CEO, SOCAR Energy Ukraine stated that the company will strive continuously to increase the import volume of natural gas.
As Chancellor Merkel meets President Vladimir Putin in Russia, Germany has decided to defend the planned Nord Stream 2 pipeline amidst warnings from the US to impose sanctions to prevent Russia’s gas export. Germany repeatedly specified that it has no intention to go against Nord Stream 2 provided Ukraine isn’t deprived of a role of a major gas transit country. With that being said, Germany has totally brushed aside U.S. concerns.