Russian state gas company OAO Gazprom (GAZP.RS) said Thursday that its Ukrainian counterpart HAK Naftogaz Ukrainy has repaid its debt in full and that the companies are currently working to reach a long-term agreement on gas supply.
In March, Gazprom and Naftogaz concluded an accord to put an end to their gas dispute, which saw Gazprom briefly slashing gas supplies to Ukraine by 50% earlier in March due to unpaid Ukrainian debt.
The deal stipulated conditions for the repayment of Naftogaz' debt for gas supplied earlier this year and a gas supply schedule for the rest of 2008.
However, a long-term agreement on gas supply is yet to be signed between the countries.