Trilateral agreement on Russian gas transit through Ukraine for 2020 and beyond

Protocol of the meetings of representatives of the European Union, Ukraine and the Russian Federation, as well as companies from these countries (LLC Gas Transportation Operator Systems of Ukraine, NAK Naftogaz of Ukraine, PJSC Gazprom) (December 19-20th, 2019, Berlin and Minsk) Representatives of the European Union, Ukraine and the Russian Federation (hereinafter referred to as…

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European Gas’ Game Theory

Michael Grossmann, October 2019 In a Nash Equilibrium the successive actions of gamers can lead to a stable equilibrium where any additional action would leave each gamer individually only worse off. In the negotiations over the future of Russian gas transit through Ukraine, the gamers are Gazprom and the Ukrainian state. The European Commission is…

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The Naftogaz vs. Gazprom arbitration: one multibillion dollar plot, two perspectives

Initially published in Global Gas Perspectives on 1 February 2018 The Naftogaz vs. Gazprom arbitration processes are a high-stakes game by any standard, and particularly so for Ukraine. Michael Grossmann Overview of Stockholm arbitration process Traditionally, the price of Gazprom gas to Ukraine, and the tariff Ukraine charged for transit were linked de facto, so…

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