National JSC “Naftogaz of Ukraine” reached an agreement with the Open JSC “Gazprom”

Oleg Dubyna, the National JSC “Naftogaz of Ukraine”’s Chairman of the Board, and Alexey Miller, the Open JSC “Gazprom”’s Chairman of the Board, have signed the Agreement on gas cooperation development.

Under the mentioned Agreement, natural gas of Central and Middle Asia origin in the volume not less than 49.8 billion cubic meters at the price of USD 179.5 per 1 thousand cubic meters should be supplied to Ukraine from January to December, 2008. The gas purchaser on the Russian border with Ukraine should be the National JSC “Naftogaz of Ukraine”. Moreover, the Central Asian gas supplies in the volume of 5.2 billion cubic meters, which have been performed in January – February, 2008, should be confirmed in full by the relevant acceptance reports and paid up under the effective Contracts signed with ROSUKRENERGO AG and Closed JSC “UkrGaz-Energo”.

Taking into account the technical schedule of Central & Middle Asia gas supplies and the lack thereof in the 1st quarter of 2008, the National JSC “Naftogaz of Ukraine” should execute the Russian Gas Sale Contract with ROSUKRENERGO AG for the gas, supplied to Ukraine in January-February, 2008 at the base price of USD 315 per 1 thousand cubic meters, the cost of which should be compensated through return of the appropriate volume of natural gas.

Starting with the 1st of April 2008 a company, which is subsidiary or affiliated with the Open JSC “Gazprom” will annually carry out direct gas supplies to industrial customers of Ukraine in the volume not less than 7.5 billion cubic meters.

Negotiation on natural gas supply terms to Ukraine in 2009 and the subsequent years will continue based on existing market conditions for Central and Middle Asia gas purchase prices.

Press-center NJSC “Naftogaz of Ukraine”

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