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Ukraine’s 2016 state budget based on gas price at $210-215 per 1,000 cubic meters

December 09, 2015, 16:28 UTC+3

An official of Russia's Gazprom earlier said the price of gas for Ukraine will amount to $230 per 1,000 cubic meters in the Q1 of 2016 without discount

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KIEV, December 9. /TASS/. Ukraine’s draft state budget for 2016 is based on average price for imported natural gas at around $210-215 per 1,000 cubic meters, the country’s minister of energy and coal industry Vladimir Demchishin said on Wednesday.

"As far as I remember the issue was about around $210-215 though I may be mistaken. Gas price is implied in hryvnias so it’s more important to see the exchange rate," he said.

According to Demchishin, currently gas costs less than $200 per 1,000 cubic meters at European natural gas hubs and Kiev expects the cost of gas to further decline.

"At European hubs the price is less than $200 and hopefully it will decrease in the first quarter (of next year) and further on," the minister said.

He also said he welcomes the initiative to split Ukraine’s state gas company Naftogaz Ukrainy, depending on profile - gas production, transportation, storage and trade.

"And those companies cannot be under one institution - for example, the ministry of economy, that’s why next year will see some certain reformation," Demchishin said.

Gazprom’s Deputy Chairman of the Management Committee Valery Golubev said earlier that the price of gas for Ukraine will amount to $230 per 1,000 cubic meters in the Q1 of 2016 without discount.

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