January 2020, Vol. 247, No. 1

Global News

Transneft Extends Oil Transit Deal with Ukraine Operator

Ukrainian pipeline operator Ukrtransnafta said it has agreed to a 10-year oil transit extension with Russia’s Transneft. 

The agreement extends the current contract between the two companies to Jan. 1, 2030, according to Ukrtransnafta (Naftogaz of Ukraine). The final agreement and signing of the document followed a Nov. 27 Ukrtransnafta shareholder decision.

It states that the basic principles of cooperation between Ukrtransnafta Transneft will continue without changes, such as the order of payment of services and interaction mechanism at the level of technical services, Ukrtransnafta said. 

“The additional agreement ensures the safe and constant work of the transport system of Ukraine on a long-term basis,” it said.  

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