You're reading: Naftogaz expects to meet with Gazprom by end of January to discus new gas transit rates

NJSC Naftogaz Ukrainy expects to meet with Russia's OAO Gazprom by the end of January to discuss new gas transit rates in connection with the introduction of the new "ship-or-pay" rate formation principle in Ukraine from 2016, Naftogaz CEO Andriy Kobolev said.

If the talks fail, the Ukrainian side may take the Russian company to court, Bloomberg quoted Kobolev who met with the press in Brussels on Jan. 18.

Kobolev assured that transit shipments of Russian gas to Europe via Ukraine would remain stable and natural gas stocks in underground facilities were 20 percent up on the same date in 2015, as domestic consumption had declined.

“We feel more at ease. We see no risks on our side,” Bloomberg quoted Kobolev as saying.

In his words, Naftogaz buys gas from those sellers who offer the best price, and Russian gas is much more expensive nowadays. He admitted that Naftogaz might start buying Russian gas again in case of long-lasting strong frosts, but, in his words, it is unlikely to happen in January.