Gas crisis – the last act ?

photolenta_big_photo6Today gas transit agreement and contract on gas deliveries to Ukraine for 2009 was signed  between Gazprom and Naftogaz. Alexei Miller, the CEO of Russian gas producer and exporter Gazprom, and Oleg Dubina, the CEO of the Ukrainian oil and gas monopoly Naftogaz Ukrainy, put their signatures under the documents in the presence of Prime Ministers Vladimir Putin of Russia and Yulia Timoshenko of Ukraine. And the supply of gas to Europe will be resumed.

As Russia’s Prime Minister explained after the signing ceremony, there are two contracts: “a contract to supply gas to Ukraine and a contract for transit that are long-term for ten years”. Putin also stressed that the two documents are not connected with each other.

The problem is far from being solved if things look long term. Russia won the media war. Ukraine won “technical gas”. Both sides made compromises, and lost in Chapter Credibility.

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