Naftogaz to cut gas prices for industry from May 1

National oil and gas holding Naftogaz of Ukraine from May 1, 2017, will lower by 2.8% the minimum price of natural gas sold to industrial consumers from UAH 7,675 per 1,000 cubic meters in April 2017 to UAH 7,456.8 per 1,000 cubic meters, the company said in a statement.

At the same time, the maximum price of natural gas for industrial consumers will be reduced by 2.7% from May 1 from UAH 8,516.4 per 1,000 cubic meters in April to UAH 8,282.4 per 1,000 cubic meters.

Naftogaz`s quotations are differentiated depending on the volume of purchase, terms of payment and the payment history, the company said.

If a buyer has no debt to Naftogaz or intends to buy at least 50 million cubic meters of gas per month, the minimum price is applicable. In other cases, buyers are to pay more.

All fuel prices are indicated as including VAT and tariffs for transportation through main and distribution pipelines.

Earlier, a new law on the natural gas market came into force in Ukraine on October 1, 2015, which deprived Ukraine`s National Energy and Utilities Regulation Commission of the right to establish prices of natural gas for the industry.

Naftogaz reduced the minimum prices of natural gas for industrial consumers by 10.3% in April 2017, to UAH 7,675.2 per 1,000 cubic meters against March 2017, as well as cut the maximum prices by 9.7%, to UAH 8,516.4 per 1,000 cubic meters.

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