10:10 02.04.2015

Naftogaz, Gazprom sign Q2 gas deal – Ukrainian ministry

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Naftogaz, Gazprom sign Q2 gas deal – Ukrainian ministry

NJSC Naftogaz Ukrainy and Russian gas giant Gazprom have signed an agreement on the delivery of Russian natural gas to Ukraine in the second quarter of 2015, the Ukrainian Energy and Coal Industry Ministry reported on Wednesday evening.

The new document puts the price of gas for Ukraine at $248 per 1,000 cubic meters, but keeps the terms of the so-called 'winter package', it said.

"This is the victory of the economically justified approach to relations between Naftogaz and Gazprom over the political one. We've got an economically reasonable market price, which is lower than the price of reverse [gas flow] from European countries. This temporary agreement only covers the second quarter. However, it will not only allow us to begin accumulating gas for the autumn-winter period, but also format relations in the future," Energy and Coal Industry Minister Volodymyr Demchyshyn said.

According to him, talks are to be held in Berlin in April to discuss a long-term agreement for the period until the end of the 2015/2016 heating season.

"We plan to agree on the same formula for determining the price," Demchyshyn added.

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