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    December 28, 2015

    Novak: Gas From EU Is More Expensive Than From Russia

    Translated by Ollie Richardson for Fort Russ
    28th December, 2015

    Ukraine buying gas from the EU is often more expensive than you could buy it from Gazprom. As a result, the Ukrainian consumers overpay for it, said energy Minister Alexander Novak.

    "We see that the Ukrainian party today often buys gas at a higher price than that which could be obtained from Russia. This, of course, is amazing to us. Rather, it is more of a principled stance — "it is better we buy more expensive, and not from Russia", although the consumer pays for it — and the population of Ukraine pays for it," said Novak in an interview with TV channel "Russia 24".

    In the winter gas package, which Ukraine, Russia and the EU initiated on the 25th September, it was agreed to purchase, via Naftogaz, 2 billion cubic meters of gas on a credit from Gazprom totalling 500 million dollars paid for using the EU. Ukraine in the framework of the "winter package" had resumed purchases of Russian gas on 12 October, and after November 25, once again stopped. During this period, "Naftogaz" transferred to "Gazprom" 542 million dollars in payment for gas, an amount that corresponds to the volume of 2,383 billion cubic meters of gas.

    In July, August and September, Naftogaz had not bought gas from Russia. The Ukrainian side was not satisfied with the price, with the discount of $40/kcm only applicable on orders of 247,17 dollars per thousand cubic meters. During this period Ukraine bought gas from the EU.
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    Item Reviewed: Novak: Gas From EU Is More Expensive Than From Russia Rating: 5 Reviewed By: Ollie Richardson
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