The $40 billion is to be considered “investment aid” in Ukraine’s economy, Yanukovych said. The lease on Russia’s Black Sea Fleet base on the Crimean peninsula was extended until 2042, with the possibility of a five-year extension.
The discount savings bas been turned into aid for Ukraine economy, more from Bloomberg here. I've found the use of the $40 billion in savings as a dubious claim that is being regurgitated by some news outlets. Russia triggered the gas war last year then pushed for the higher price for gas. Ukraine renegotiated a deal that was imposed by the Russians last year. The real aid came from the IMF when the economy began its descent in 2008.
One last comment , Oil and Gas' post on the deal discusses the gas price from the 2009, emphasis mine.
Take a peek at the numbers. I asked Ed Chow, whom O&G readers will recall as a former Chevron negotiator in Russia, and who is now a senior fellow over at the Center for Strategic and International Studies, for a rundown of current gas pricing in Europe. Chow said that European customers under contracts are paying about $240 per thousand cubic meters for their gas. Meanwhile, spot gas prices -- meaning what users are paying for Qatari liquid natural gas that's flooding the market -- are about $150 per thousand cubic meters. By these measures, Ukraine got no bargain -- it is paying right around the market price, and in fact 60% higher than the spot price.
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