Russian gas firm OAO Gazprom (GAZP.RS) said late Tuesday it has agreed to sell less gas than contracted to Ukraine's state firm Naftogaz next year, in a move to curb the risk of another halt in natural gas supplies to Europe this winter.
Russian gas firm OAO Gazprom (GAZP.RS) said late Tuesday it has agreed to sell less gas than contracted to Ukraine's state firm Naftogaz next year, in a move to curb the risk of another halt in natural gas supplies to Europe this winter.

Under an amendment to a contract signed in January this year between the two companies, Gazprom will sell 33.75 billion cubic meters of natural gas to Naftogaz in 2010, Gazprom said.

Ukraine --on the verge of bankruptcy amid a global economic slowdown--had originally contracted 52 billion cubic meters for next year.

"The volumes have been corrected in accordance with actual consumption in Ukraine during the crisis," Gazprom Chief Executive Alexei Miller said.

Gazprom also agreed not to fine Naftogaz for lower offtake of natural gas this year than stipulated in their take-or-pay contract.

In January this year, a pricing dispute between Moscow and Kiev resulted in a suspension of Russian natural gas to Europe via Ukraine . Russia supplies more than a quarter of Europe 's gas needs, 80% of which flow through Ukraine .

The agreements followed a meeting between Russia 's Prime Minister Vladimir Putin and his Ukrainian counterpart Yulia Tymoshenko last week, which laid the framework for Tuesday's agreements.

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