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Gas transit deal ‘in principle’ appeases markets

Progress in the Berlin talks means a final agreement for the transit of gas between Russia and Ukraine may be reached in the coming days Progress in the Berlin talks means a final agreement for the transit of gas between Russia and Ukraine may be reached in the coming days.
By Anna Gumbau 20 December 2019 Europe & Russia / Policy & Regulation 0 34903
Russian Energy Minister Alexander Novak (left) and his Ukrainian counterpart, Alexei Orschel, at the talks on Thursday. (PA)

The gas transit negotiations between Russia, Ukraine and the European Commission took a significant leap forward on Thursday as a 10-hour round of talks concluded with an agreement “in principle”, according to commission Vice President Maros Sefcovic.

This is “good news for the EU, for Russia, for Ukraine, for gas markets and for consumers”, Sefcovic said. The announcement saw gas prices on the Dutch TTF fall at the fastest rate since August; January gas futures opened on Friday down by 8.7% compared with Thursday's closing price,...