Gas price for Ukraine rising to $385.50 per 1,000 m3 due to non-payment

Russia will be charging Ukraine $385.50 per thousand cubic meters of gas instead of $268.50 previously, starting in the second quarter of this year due to delayed payments, Gazprom CEO Alexei Miller told the press.

"In line with the current gas delivery contract, the price for Ukraine will be $385.50 in the second quarter. The 'December' gas [price] discount cannot be applied. This is decided and is due to Ukraine not paying its debt for gas deliveries in 2013 and the absence of 100% payment for current deliveries and, accordingly, the increased debt for delivered gas. The amount of debt is now $1.711 billion," Miller said.

"At the same time, in the second quarter the rate for the transit of Russian gas through the territory of Ukraine increases. Its growth will be 10%, as envisioned by the calculation formula in the 2009 transit contract, taking the gas price into account," Miller said.

"Gazprom will be paying a higher transit tariff and will fully meet its contractual obligations," he said.