Agreements on cooperation in gas sector currently in force (key articles are mentioned partly)

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1 Agreements on cooperation in gas sector currently in force (key articles are mentioned partly) Name of the Agreement Date of signature Key Articles 1. AGREEMENT Between the Government of Ukraine and the Government of the Russian Federation on Export of Russian Natural Gas to Ukraine and its Transit across the Territory of Ukraine to European Countries January 18, 1994 Article 1 The Russian Party shall ensure, through the Russian Joint Stock Company Gazprom, in : - export of Russian natural gas for consumers of Ukraine in the amount of 50 to 70 billion cubic meters per year; - supply of Russian natural gas to the approved units of transfer and acceptance at the frontier of the Russian Federation and Ukraine for transit to the units of transfer and acceptance at the frontiers with such countries as Slovakia, Hungary, Romania and Poland, in the following volumes (in billion cubic meters), on year by year basis: Article 2 The Ukrainian Party shall provide for the following, through the Industrial Union Ukrgazprom : - transit of Russian natural gas across the territory of Ukraine from the approved units of transfer and acceptance at the frontier of the Russian Federation and Ukraine to the units of transfer and acceptance at the frontiers of such countries as Slovakia, Hungary, Romania and Poland, in the volumes and within terms specified in Article 1. Article 5 The Parties shall order the Industrial Union Ukrgazprom and OJSC Gasprom to sign contracts which shall coordinate the annual volumes, commercial and technical terms of transit and export of Russian gas, as well as the procedure and terms of joint use of underground gas storages of Ukraine for facilitation and provision of stability of export supplies of Russian natural gas. Article 7 At general shortage of supply of Russian natural gas by the Russian Party to the Russian and Ukrainian frontier, except for cases of shortage of supplies due to non-payments of the Ukrainian parties, as well as force majeure circumstances, the volumes of transit and export to Ukraine shall be reduced

2 in proportion to such shortage of supply. Article 11 The Parties have agreed that OJSC Gasprom and economic bodies of Ukraine shall be entitled to change tariff rates for transit of Russian gas with respective change of price for gas supplied to consumers of Ukraine, annually during conclusion of contracts on supply of Russian natural gas. Article 18 This Agreement shall enter into force on the date when it is signed and shall be valid till December 31, The term of validity of this Agreement shall be automatically prolonged for the following 5-year periods, if none of the Parties informs the other Party on its intention to terminate this Agreement no less than four years before the expiration of this Agreement or before the expiration of any following 5-year period. 2. AGREEMENT Between the Cabinet of Ministers of Ukraine and the Government of the Russian Federation on the Guarantees of Transit of Russian Natural Gas through the Territory of Ukraine December 22, 2000 Article 1 The Ukrainian Party shall guarantee the transit through the territory of Ukraine of Russian natural gas, owned by the OJSC Gazprom, subject to it to be provided by the Russian Party in 2001 in the volume of 124,6 billion cubic meters, and also prevent this gas from extra-contractual extractions. Article 2 In capacity of payment for services rendered in connection with the transit of Russian natural gas through the territory of Ukraine within the scope provided for in the article 1 hereof, OJSC Gazprom shall supply NJSC Naftogaz of Ukraine with 30 billion cubic meters of natural gas. Article 8 The Ukrainian Party represented by NJSC Naftogaz of Ukraine and the Russian Party represented by OJSC Gazprom shall guarantee the round-theclock coordinated provision of complete and unprejudiced information concerning delivery and consumption of Russian natural gas supplied hereunder. Control over the actual natural gas transfer over the Ukrainian - Russian

3 border shall be carried out by custom authorities of Ukraine and the Russian Federation. Article 11 For the period of its effect, this Agreement shall be considered supplemental to the Agreement between the Government of Ukraine and Government of the Russian Federation on the Russian natural gas export to Ukraine and its transit through the territory of Ukraine to the European countries in Article 1 (in the part of extra-contractual natural gas extraction ) For the purposes hereof the extra-contractual natural gas extraction is understood as extraction of Russian natural gas on the territory of Ukraine in the scope exceeding that provided for in the contract between OJSC Gazprom and NJSC Naftogaz of Ukraine on transit of Russian natural gas in Article 4 (in the part of extra-contractual natural gas extraction ) In case of violation by the Ukrainian Party of its obligation provided for in the article 1 hereof and occurrence of extra-contractual natural gas extraction, the debt obligations of Ukraine arise regarding reimbursement of the extracontractual natural gas extraction in the amount determined under the procedure specified in the annex No.3 of this Agreement. The debt obligations of Ukraine mentioned above arise from the dates of extra-contractual natural gas extractions as ascertained by operators of the Parties. Starting from these dates and till the 24 th January of the next year inclusive, the total amount of the extra-contractual natural gas extraction shall be charged with the interest under the LIBOR rate for the 6-months US dollars deposits plus margin amounting to 0,5 percent per annum. The LIBOR rate shall be determined as of the first working day of each interest period, therewith the interest periods are: 1 st January, th June, 2001 and 1 st July, th January, Interest calculations shall be based on the actual number of days in the year that conventionally provides for 360 days.

4 Appendix 3. Principal Terms of Emission and Operation of Notes of External State Borrowing of Ukraine Issued under the Agreement between the Cabinet of Ministers of Ukraine and the Government of the Russian Federation on the Guarantees of Transit of Russian Natural Gas through the Territory of Ukraine. 13. While determining the total amount of sovereign debt of Ukraine to the Russian Federation, corresponding to the volume of Eurobond emission specified in provision 3 of these Principal terms, the value of extracontractual extraction of gas should be calculated as follows: G A = n r + 1+ r 1 n n-1 (1+d) (1+d) A - value of extra-contractual extraction of gas; G - cost of the proper scope of gas at the contractual price of USD 80 for a 1000 cubic meters; r a 1/2 of the Eurobond coupon rate defined in accordance with the provision 7 of these Principal terms; d - a 1/2 of the discount rate, which equals to the simple average of earning capacity of Ukraine s Eurobonds

5 3. AGREEMENT Between the Cabinet of Ministers of Ukraine and the Government of the Russian Federation about Additional Measures on Providing Transit of Russian Natural Gas across the Territory of Ukraine October 4, 2001 Article 1 To extend the validity of the Agreement dated December 22, 2000, except for annexes No. 1 and No. 2, and articles 2, 5 and 9, for the year 2002 and the following years up to the year 2013 inclusive. Article 2 The Russian Party shall guarantee performance of settlements of OJSC Gazprom 1 with National Joint Stock Company Neftegaz Ukrainy for services on transit of natural gas across the territory of Ukraine by supplies of gas and/or in monetary form. The volumes of transit of Russian natural gas across the territory of Ukraine, as well as the amount of payments in monetary form and/or volumes of gas supplies as payment for transit shall be clarified and verified on the basis of annual inter-governmental protocols (minutes) for the respective year. 4. THE AGREEMENT on settlement of relations in gas sphere January 4, In the area of transit of the natural gas owned by Gazprom (Gazexport Ltd.) and RosUkrEnergo via the territory of Ukraine and the Russian Federation, the Parties agreed upon the transit rate in the amount of 1.6 USD for 1000 cu m for a distance of 100 km for the period up to 01/01/ In the area of natural gas supplies to Ukraine the Parties agreed upon RosUkrEnergo to be appointed a supplier. Starting from the 1st of January, 2006 Gazprom shall not supply the Russian natural gas to Ukraine, and Naftogaz of Ukraine shall not export from the Ukrainian territory the natural gas received from the Russian Federation. 5. The transit rate and natural gas price, fixed hereunder, are subject to change only if mutually agreed by the Parties. 5. THE AGREEMENT on development of relations in gas sphere March 12, During the period from January 1 to December 31, 2008, ROSUKRENERGO AG or Gazprom shall sell to Naftogaz of Ukraine the natural gas of Central and Middle Asian origin on terms of DAP border Russian Federation/Ukraine and/or border of Republic of Byelorussia/Ukraine ( Incoterms 2000) in volumes no less than 49.8 billion cubic meters at the price of USD 179,5 for 1,000 cubic meters.

6 2. Since April 1, 2008, Naftogaz of Ukraine shall enter into long-term agreement on sale-purchase of the natural gas of Central and Middle Asian origin in 2008 and the following years in volumes no less than 7.5 billion cubic meters annually aimed at selling to industrial consumers of Ukraine with a margin not exceeding USD 0.01 for 1,000 cubic meters with newly created on the territory of Ukraine subsidiary or affiliate to OJSC Gazprom. 4. Naftogaz of Ukraine and Gazprom shall sign within 3 days after this Agreement is signed the Technical agreement on terms of deliveryacceptance of natural gas at the gas-measuring stations, located on the border, for gas transit through the territory of Ukraine, and also transfer of natural gas to Ukrainian consumers in MEMORANDUM Between the Government of the Russian Federation and the Cabinet of Ministers of Ukraine on cooperation in the gas sphere October 2, The Parties welcome the establishment as of January 1, 2009, of direct long term relations between OJSC "Gazprom" and NJSC "Naftogaz of Ukraine" on supplying of gas to Ukraine in the volumes that ensure the balance of gas for Ukrainian consumers. The Parties admit that the efficiency of transition to the direct relations of gas supplying depends on satisfaction of debt before OJSC "Gazprom" for gas supplied for the Ukrainian consumers, timely payments for future deliveries, and possibility for the group of companies of OJSC "Gazprom" to supply natural gas to Ukrainian consumers. 2. The Parties confirm the aspiration to the stage-by-stage transition in the course of three years to the market-based, economically substantiated and mutually approved prices for imported natural gas of Ukraine's consumers and the tariffs for transit of gas through the territory of Ukraine. 3. The Parties support the intention of NJSC "Naftogaz of Ukraine" to act as a sole importer of the entire volume of natural gas supplied for the needs of Ukraine. 5. The Parties confirm the necessity of ensuring of uninterrupted transit of gas through the territory of Ukraine on the long term basis. 7. The Parties agree that the aforesaid provisions shall be reflected in

7 commercial contracts between the respective business entities. 7. AGREEMENT on the principles of long-term cooperation in the gas sphere October, Naftogaz agrees that transfer to direct relations in the gas supplies will be conditioned by redemption of debt before OJSC Gazprom for the natural gas supplied to Ukrainian consumers, timely payment for future supplies and possibility for the enterprises of OJSC Gazprom group to carry out supplies of the natural gas to Ukrainian consumers. 2. The Parties have agreed that since January 1, 2009 Naftogaz will be the only importer of the total volume of natural gas to the territory of Ukraine. 3. The Parties have agreed upon the following list of actions, necessary for realization of transfer to direct relations: 3.2. the Parties shall, until November 1, 2008, sign the long-term contract on supply of the natural gas. Thereat, the transfer to marketing, economically feasible and mutually agreed prices for the imported to Ukrainian consumers natural gas will be taking place during the following three years the Parties shall, until November 1, 2008, sign the long-term contract on transit of gas across the territory of Ukraine. The amount of the transit fee in the long-term contract shall be determined by the Parties at the level of 2008 and shall be correlated with the reduction factor for the price of 6,4 billion cubic meters of the natural gas, necessary for functioning of the gas transmission system of Naftogaz. Naftogaz shall guarantee safe and uninterrupted annual transit, across the territory of Ukraine, of the Russian natural gas at the level of 2008, but not less than 120 billion cubic meters per year. Naftogaz shall provide for realization of the joint, with Gazprom, export supplies of the agreed volumes of gas to the European market. 6. The Parties have agreed to quit the Agreement on adjustment of relations in the gas sphere dated January 4, 2006 from the date of fulfillment of provisions of the present Agreement, including transfer to direct supplies of gas to Ukrainian consumers and redemption of debt, connected with gas supplies to Ukrainian consumers, before Gazprom. 7. The present agreement shall become effective after its signing by the both

8 Parties.

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