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Ukraine expects Russian gas price at less than $220 per thousand cubic meters in Q3

April 29, 2015, 16:21 UTC+3
The average price of gas on the European spot market is currently at about $240 per 1,000 cubic meters, Ukrainian Energy and Coal Minister said
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© Valery Sharifulin/TASS

KIEV, April 29. /TASS/. Ukraine expects the price of Russian natural gas to be less than $220 per 1,000 cubic meters in July-September 2015, Ukrainian Energy and Coal Minister Vladimir Demchishin said on Wednesday.

"I believe it will be below $220 in the third quarter," the minister said.

The average price of gas on the European spot market is currently at about $240 per 1,000 cubic meters, Demchishin said.

The Ukrainian energy and coal minister said he hoped that "this figure [less than $220] will be sealed in a protocol between Naftogaz of Ukraine and Gazprom."

Ukraine’s major gas suppliers are currently Russia and European countries that resupply Russian natural gas in a reverse-flow mode.

Ukraine imported 4.1 billion cubic meters of natural gas in January-February, including 2.3 billion cubic meters from Europe, according to data provided in March by Ukrainian gas transportation company Ukrtransgaz.

In the same period last year, Ukraine also imported 4.1 billion cubic meters of natural gas but the entire volume came from Russia.

Ukraine’s annual gas consumption amounts to about 50 billion cubic meters.

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