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Belgium: Last-minute gas deal ready for Ukraine01:22

Belgium: Last-minute gas deal ready for Ukraine

Belgium, brussels
October 21, 2014 at 02:25 GMT +00:00 · Published

The EU, Russia, and Ukraine held trilateral gas talks in Brussels on Tuesday. The negotiations were held between Russian Energy Minister Alexander Novak and Ukrainian Energy Minister Yuriy Prodan, and they were mediated by Günther Oettinger on behalf of the European Commission. The meeting ran over by several hours as the parties tried to reach a deal, eventually concluding a 'winter settlement'. Under the terms of the settlement Russia will provide 4 billion cubic metres of gas, which could be bought through a European intermediary company.

The aim of Tuesday's meeting was to agree on a price and amount for continued Russian gas supplies to Ukraine through the winter. Russia also wants guarantees from Ukraine to pay off its debt for previous gas services, which currently amounts to around $5.3 billion (€3.54 billion).

Belgium: Last-minute gas deal ready for Ukraine01:22
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The EU, Russia, and Ukraine held trilateral gas talks in Brussels on Tuesday. The negotiations were held between Russian Energy Minister Alexander Novak and Ukrainian Energy Minister Yuriy Prodan, and they were mediated by Günther Oettinger on behalf of the European Commission. The meeting ran over by several hours as the parties tried to reach a deal, eventually concluding a 'winter settlement'. Under the terms of the settlement Russia will provide 4 billion cubic metres of gas, which could be bought through a European intermediary company.

The aim of Tuesday's meeting was to agree on a price and amount for continued Russian gas supplies to Ukraine through the winter. Russia also wants guarantees from Ukraine to pay off its debt for previous gas services, which currently amounts to around $5.3 billion (€3.54 billion).

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