Demchyshyn thinks Russian gas will be cheaper than European gas in Q3, 2015

17:44, 08.06.2015 1 min read

The formula of the 2009 contract between Gazprom and Naftogaz Ukrainy foresees a non-market price of $295-296 per 1,000 cubic meters for the third quarter of 2015, Minister of Energy and Coal Industry of Ukraine Volodymyr Demchyshyn has said.

"In the reverse direction we buy gas at $250 per 1,000 cubic meters or less. It is inappropriate to pay extra $45 per 100 cubic meters. I think the Russian price will be lower than the European one," he said at a press conference in Kyiv.

He noted that the discount negotiated at the Ukraine-Russia-EU tripartite talks is a discount in name only and in fact brings the non-market price under the formula to actual market conditions.

As reported, in the second quarter the price of Russian gas is $247.18 per 1,000 cubic meters due to a 30% discount, but not more than $100 per 1,000 cubic meters.