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Issue of gas price depends on suggestions from Ukrainian side - Russian minister

June 12, 14:23 UTC+3
"Everything will depend on what suggestions the Ukrainian counterparts will have, and here, as far as I know, Naftogaz and Gazprom are in contact now," Russia's Minister of Energy Alexander Novak said
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Russia's Minister of Energy Alexander Novak

Russia's Minister of Energy Alexander Novak

© Aleksej Nikolskij/Russian president's press-service/TASS, archive

MOSCOW, June 12. /TASS/. The issue of the price on the Russian gas for Ukraine depends on suggestions from the Ukrainian side, Russia's Minister of Energy Alexander Novak told reporters on Sunday.

"Everything will depend on what suggestions the Ukrainian counterparts will have, and here, as far as I know, Naftogaz and Gazprom are in contact now," he said.

On Friday, Business Development Director of Naftogaz of Ukraine Yuri Vitrenko tweeted Ukraine will not agree to buy natural gas from Gazprom at a price of $177 per 1,000 cubic meters and will only import it from Europe.

Naftogaz is not satisfied with the price Russia has offered for its natural gas, Vitrenko said. "Russian Energy Minister [Alexander Novak] says Gazprom will sell us gas in the third quarter at $177 [per 1,000 cubic meters]. It means the price will actually be $182-183 when adjusted by the calorific value. He believes this is below the market price, however we don’t think so," he added.

"The July price on the German market [NCG hub], for example, was under $173 [per 1,000 cubic meters]" on Thursday, Vitrenko said. "Therefore we will not buy gas from Gazprom at all in such conditions. We will buy all the required gas on the European market," he said.

Gazprom received Naftogaz’s letter with a request to resume gas supplies this week. The natural gas price for Ukraine in the second quarter of 2016 amounting to $177 [per 1,000 cubic meters] corresponds to the market situation and is comfortable without discounts, Russia’s Energy Minister Alexander Novak said earlier. The Russian Minister did not quote the price for the third quarter but said it would be calculated using the contract formula effective until 2019 year-end.

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