According to the International Monetary Fund (IMF) research, the launch of the Nord Stream 2 gas pipeline is expected to reduce Ukraine's gas transit revenues by about $ 1.2 billion a year until 2024, as long as the current transit contract with Gazprom is in force, Interfax-Ukraine reported.

The IMF analysis says:

• The projected activation of the Nord Stream 2 pipeline will reduce Ukraine's gas transit revenues
• Over the last 5 years, Ukraine received an average of just over $2.5 billion per year in return for making its gas pipelines available to Gazprom
• In 2021, transits fees are expected to be around 40% less than recent years
• Once Nord Stream 2 is operational, the volume of gas passing through Ukraine could decrease further, with Ukraine's transit revenues forecasted at around $1.2 billion per year
• The current contract between Gazprom and Naftogaz will expire in 2024

As reported, the agreement between Naftogaz and Gazprom for the organization of transportation, a transport agreement between Naftogaz and the new operator GTSOU, as well as an inter-operator agreement between GTSOU and Gazprom were signed on December 30, 2019 following the results of the trilateral gas negotiations Ukraine-Russia-European Commission.

The contract provides for transit in 2020 of at least 65 billion m3 of Russian gas, which in daily terms is 178 million m3.

In 2021-2024, transit will amount to 40 billion m3.

Payment for the above volumes is guaranteed even in the case of less pumping through the Ukrainian GTS.