Ukraine to save $7 bln annually thanks to gas contract amendments - Stavytsky

11:55, 18.12.2013 1 min read

Thanks to signed amendments to the gas contract with Russia, Ukraine will be able to save seven billion dollars a year, Ukrainian Energy and Coal Industry Minister Eduard Stavytsky said.

"For the economy and budget of Ukraine, this will be seven billion dollars in savings," Stavytsky said during a Wednesday press conference.

The gas agreements, he said, are the result of negotiations, not a capitulation of national interests.

As reported, on December 17, Gazprom and Naftogaz Ukrainy signed an addendum to the contract concerning the purchase of Russian gas, its delivery, amount, and transit terms of January 19, 2009. Russian President Vladimir Putin said the document allows Gazprom to sell gas to Ukraine at a price of $268.50 per 1,000 cubic meters, where it currently stands at about $400.

That price will be effective starting in January, Ukrainian Deputy Prime Minister Yuriy Boiko said.