Asters has advised on Ukrainian law matters relating to the Memorandum of Understanding signed between Eustream and Ukrtransgaz on a potential solution to the transmission of gas from Slovakia to Ukraine.
Tomas Marecek, the Chairman of the Board of Directors of Eustream, promised that the Slovak transmission system operator would do the maximum to facilitate the transmission of gas to Ukraine with the maximum possible volume enabled by the Vojany-Uzhorod gas pipeline, starting from the beginning of October this year. Marecek explained that “top representatives of the European Commission requested us to shorten the terms for technical preparations for launching the Vojany pipeline and to increase the capacity to a maximum. We promised that we would do everything in this respect within our technical possibilities and transmission regulations to ensure that in accelerated mode we will attain a volume of 8-9 billion cubic meters of gas a year."
Gunther Oettinger, the European Commissioner for Energy, who attended the signing ceremony, explained the significance of the deal. "It is important that Ukraine makes speedy progress in unifying its legal and regulatory framework with the energy legislation of the EU. This increases the trust of investors and helps the country modernize its energy sector."
Asters Senior Partner Armen Khachaturyan, who led the firm's working team on the project, was proud of Asters' role in the deal. "Cooperation between Slovakia and Ukraine on the reverse gas supply to Ukraine is extremely important for Ukraine under the current complex political and economic circumstances and we take it as a great honor to assist on this matter." Khachaturyan was assisted by Senior Associate Yaroslav Petrov.