14:24 13.12.2014

Naftogaz CEO projects price of Russian gas in Q1, 2015 will drop below $340 per 1,000 cubic meters

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Naftogaz CEO projects price of Russian gas in Q1, 2015 will drop below $340 per 1,000 cubic meters

A decline in the price of crude oil on the world's market will translate into a decrease in the price of Russian gas for Ukraine in the first quarter of 2015 to less than $340 per 1,000 cubic meters against $378 in the fourth quarter of 2014, Naftogaz Ukrainy CEO Andriy Kobolev said.

"[A decline in the oil price] has already had an impact on Russian gas. As early as in the first quarter of 2015 the price will go below $340 per 1,000 cubic meters," he said on Channel 5 on Friday evening.

In his words, the price of natural gas Naftogaz imports from Europe is "somewhat lower."

A further decline in the gas price is projected in connection with a decrease in crude oil prices, he added.

"I expect that price in Europe will be between $250-300 per 1,000 cubic meters next July," he said.

The import of more expensive Russian gas is the only condition for greater comfort in winter against the backdrop of undue consumption of gas in the country.

"Agreements with Gazprom have given us comfort for this winter, and it's worth it," he said.

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