RWE to supply natural gas to Ukraine

|About: RWE AG ADR (RWEOY)|By:, SA News Editor

German utility RWE (RWEOY) formally agrees to supply Ukraine with natural gas this year, the first such deal by a European energy company after Ukraine's continuing political crisis put the country's traditional supplies from Russia in doubt.

RWE says it will begin gas deliveries to Ukraine state-owned energy company Naftogaz via Poland immediately; the gas will be delivered at wholesale price levels, including delivery costs, but RWE does not provide an estimate of the expected volumes.

Separately, the head of Gazprom (OGZPY) reportedly told a European energy leader that it will continue to provide a reliable supply of natural gas to the European market.