Protracted talks between Moscow and Kiev...
is easily calculated.Ukraine pledged to buy 36.5 billion cubic meters of gas in 2010. Of this amount, 6.5 billion cu. m. were paid for in the first quarter and are not taken into account. In April-December 2010, Ukraine is to buy 30 billion cu. m. worth $340 per 1,000 cu. m. This makes up for $3.09 billion.
This is a modest amount, and it can be compensated for on the domestic market. While the two presidents signed the new agreements, the Gazprom board of directors discussed proposals on the terms and procedure for introducing the equal-profitability principle as regards gas exports and sales on the domestic market. Gazprom plans to increase its proceeds and tax contributions, which may compensate for losses incurred by the Russian-Ukrainian agreements.
The additional agreement will not expire in 12 months, but in 2020 together with the contract. Ukraine will have to annually consume 40 billion cu. m. of gas. This implies a $4 billion annual discount.
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