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News / 5 December 2013 | 16:38
Ukraine to have cheaper Russian gas

Ukraine to have cheaper Russian gas


Naftogaz Ukraine and Gazprom continue talks to restructure the debt for gas purchased by the Ukrainian party. This announcement was made by Eugene Bakulin, Naftogaz Chairman. He said that the Ukrainian side intends to repay the debt for the gas purchased in August amounting to 765 million USD in the near future, the Information-Analytical Bulletin of the cabinet of Ministers of Ukraine informs.

In turn, Olexiy Miller, Chairman of Gazprom expressed confidence that the new round of negotiations must resolve all issues relating to the debt.

"At the moment the debt of Naftogaz Ukraine for the supplied gas is 2.020 billion USD, we are looking for solutions to this problem, conduct negotiations," Miller said. 

Energy market experts say that deferred payment is necessary for Ukraine in order not to burden the government’s effort in the regions.

Government analysts recall that President Viktor Yanukovych has repeatedly stated that Ukraine intends to resolve all issues related to Russian gas, as they are strategic issues for the Ukrainian economy. The maximum price for Russian gas, according to the President, should be  300 USD/ cu m and not the current price of 510 USD. 

Experts say the Ministry of Energy and Coal Industry of Ukraine intends to negotiate the price of Russian gas down to 200-250 U.S. dollars / cubic meter with loading Ukrainian gas transportation system to 90 billion cubic meters annually.

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