NAFTOGAZ, GAZPROM REACH AGREEMENT ON CRISIS SETTLEMENT

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Following telephone talks between Russian President Vladimir Putin and President Viktor Yushchenko of Ukraine, Russia's Gazprom natural gas monopoly president Aleksey Miller and national joint stock company Naftogaz of Ukraine board chairman Oleh Dubyna reached agreement on settlement of the crisis situation in bilateral gas relations.

Gas supply issues will be regulated, and talks on other questions of cooperation in gas industry will continue, reads a joint statement of Gazprom and Naftogaz of Ukraine.

The parties reached agreement that gas deliveries from January 1 to March 1, 2008 will be fully registered and repaid by Naftogaz of Ukraine according to the pattern effective by the beginning of the year.

The transit of Russian gas for European consumers across the territory of Ukraine is proceeding in a full volume. Delivery restrictions for Ukrainian consumers have been lifted, the joint statement reads. The Naftogaz press service confirmed that Gazprom had lifted restriction of gas supplies to Ukraine.

Naftogaz and Gazprom will discuss the details of repayment and registration of gas supplies next week, Naftogaz of Ukraine press secretary Valentyn Zemlianskyi says.

UKRINFORM