The Naftogaz Ukrainy oil and gas company plans to complete offtake of the pre-paid volumes of Russian gas on Saturday, Naftogaz Ukrainy board chairman Andriy Kobolev said.

"We paid for it in advance, we will complete the offtake on Saturday," he said at the second Conductors of Change forum for directors in Kyiv on Thursday.

Naftogaz bought 2 billion cubic meters (bcm) of gas at $227.36 per 1,000 cubic meters, he said.

Naftogaz started buying gas through a reverse flow from Europe at prices that were more attractive than the Russian ones, Kobolev said. The company will balance its purchases between European and Russian gas in order to formulate an optimal portfolio.

Kobolev added that Naftogaz has excess capabilities to transport gas from both Russia and Europe.