Ukraine to Buy 27 Bln Cu M Gas from Russia Next Year

Ukraine’s national energy company Naftogaz has agreed with Gazprom to import 27 billion cubic meters of natural gas from Russia next year, Ukrainian Energy and Coal Industry Minister Yuriy Boiko said on Wednesday.

That amount is just over half of the amount Ukraine is contracted to buy under the terms of the 2009 gas deal signed with Russia.

Boiko said he hoped Ukraine would be able to purchase even less gas from Russia next year.

Ukraine has long been seeking to alter the terms of the 2009 gas deal. The deal ties the price of gas to oil prices, which have risen strongly since 2009, boosting Ukraine’s gas bill.

Ukraine will have to pay some $416 per cubic meter of Russian gas in 2012. Kiev insists the price and volume of its gas imports should be reduced.

Ukrainian Prime Minister Mykola Azarov has said $200 per 1,000 cubic meters is a fair gas price for Ukraine, while Gazprom says the company sees no reasons for a gas price revision.

Russia had previously said Ukraine has missed its chance to alter gas purchase volumes for this year as the annual contracted volume has to be changed at least six months before the start of gas supplies.


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