The new company is to operate the transit of purchased gas and to be an investor into the development of infrastructure required for this transit.
The company will be run by a coordinating committee with executives from Gazprom, Naftogas of Ukraine, Gazprombank and Raiffeisenbank. The world's leading auditors are to be invited to audit the new company.
The RosUkrEnergo will start work on January 1, 2005 on the basis of Turkmen gas purchase agreements with Naftogas of Ukraine and Gaserxport as well as proceeding from the treaty with Gazprom on gas transportation across the territory of Uzbekistan, Kazakhstan and Russia and from the sales treatry concerning Naftogas of Ukraine gas reaching the Ukrainian border. The volume of deliveries will increase from 44 billion cubic metres in 2005 to 60 billion in the period from 2007 to 2028.
"The documents signed give a new impetus to mutually-advantageous cooperation in gas deliveries to Ukraine and enables the growth of Gazprom gas export to foreign countries across Ukraine," Gazprom press-release quotes Gazprom chief Alexey Miller as saying when signing the documents.
"The accords reached will ensure uninterrupted gas supplies for Ukraine's consumers for a long time while the involvement of major lending organisations in this project will help finance the widening of gas transport capacities on the route from Turkmenistan to Ukraine.
Accords on forming a long-term single gas balance were reached at the Russian-Ukrainian business forum in Yalta on July 26. As a follow-up, a package of documents on cooperation between Russia and Ukraine in the field of gas deliveries and transit until 2028 was signed in Moscow this Thursday.
It is in compliance with the signed documents that the new company RosUkrEnergo is being set up.
