The European Union's Energy Commissioner Andris Piebalgs welcomed here on Wednesday a Russian-Ukrainian deal on gas payments.
"The rapid solution of this bilateral commercial issue and the level of transparency shown by both parts during the affair strengthens the reputation of Russia and Ukraine as reliable supply and transit countries to EU markets," Piebalgs said.
Russian gas giant Gazprom signed an agreement on Tuesday with Ukraine to settle 1.3 billion U.S. dollars of gas debt.
The deal confirms the size of the debt and provides a plan to pay it off by Nov. 1, 2007, according to a statement from Gazprom.
The dispute arose as Gazprom warned last week that it would cut the gas supply to Ukraine if the claimed debt was not paid off this month. Ukraine, however, said companies not the government owe the debts.
The Russian company feeds about one quarter of Europe's gas demand, 80 percent of which is transferred via Ukraine.
Source: Xinhua
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