: :inin Kyiv (EET)

Ukraine`s Naftogaz cuts gas prices for industry by 10.3% from April 1


Oil & gas giant NJSC Naftogaz of Ukraine from April 1, 2017, will cut the minimum price of natural gas sold to industrial consumers by 10.3%, to UAH 7,675.2 per 1,000 cubic meters from UAH 8,553.6 per 1,000 cubic meters in March 2017, the company said in a statement.

At the same time, the maximum prices of natural gas for industrial consumers will be lowered by 9.7% from April 1, to UAH 8,516.4 per 1,000 cubic meters from UAH 9,439.2 per 1,000 cubic meters in March 2017, according to Naftogaz.

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 pay higher prices.

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 Commission for state regulation in energy and utilities the right to establish prices of natural gas for industry.

Naftogaz reduced the minimum prices of natural gas for industrial consumers by 7% in March 2017, to UAH 8,553.6 per 1,000 cubic meters against February 2017, as well as cut the maximum prices by 6.9%, to UAH 9,439.2 per 1,000 cubic meters.

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