Ukraine reaches agreement to pay off debt for Turkmenistani gas supplies

Jul 25, 2000 02:00 AM

During her visit to Turkmenistan, Ukrainian Deputy Prime Minister Yuliya Tymoshenko reached an agreement with the national government to pay off Ukraine's $ 343.8 mm debt for Turkmenistani gas supplies in kind.
Tymoshenko also reached a deal on the delivery of 20 bn cm of Turkmenistani gas to Ukraine in 2000. Gas can now be delivered to Ukraine only via the Gazprom network of pipelines. Tymoshenko stated that Ukraine has projects to build pipelines around Russia for Turkmenistani gas transport.
Ukrainian Deputy Prime Minister Yuliya Tymoshenko and Turkmenistani President Saparmurat Niyazov have reached an agreement on the repayment of Ukraine's restructured debt for gas within two years. According to a source at the Turkmenistani government, around 33 % of the outstanding debt, worth $ 211 mm, will be paid by 2002, the rest will be repaid with commodities and investment in Turkmenistan's oil and gas sector.
In addition, Ukraine will transfer $ 27 mm to Turkmenistan by the end of 2000 torepay the debt of Naftogaz Ukrayiny for Turkmenistani gas supplies in 1999. The hard currency part of the debt is currently standing at $ 107, according to the Ukrainian side.

Source: Kommersant via NewsBase
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