Ukraine buying gas in Europe at $190 per 1,000 cubic meters or cheaper

16:58, 19.01.2016 1 min read

Ukraine is currently buying natural gas in Europe at $190 per 1,000 cubic meters, Ukrainian Energy and Coal Industry Minister Volodymyr Demchyshyn said.

"We are buying [gas] from the European direction, where it is cheaper. The latest transactions were approximately at $190 or perhaps slightly lower. We see that this price is significantly lower than what Gazprom has offered us," Demchyshyn said at a press conference in Kyiv on Tuesday.

Naftogaz Ukrainy has concluded contracts with Noble Clean Fuels Limited, Engie SA, Axpo Trading AG, E.ON Global Commodities SE, and Eni trading & shipping SpA for 1.7 billion cubic meters of gas to be delivered from December 2015 to March 2016. The contract is to be funded by the European Bank for Reconstruction and Development (EBRD). The price varies from $188 to $211 per 1,000 cubic meters.

The price at which Ukraine might buy gas from Russia's Gazprom in the first quarter of 2016 is about $212 per 1,000 cubic meters.