Novak saw no reason to give Ukraine a discount on gas in the III quarter

Novak saw no reason to give Ukraine a discount on gas in the III quarter


Moscow. June 28. The price of gas for Ukraine in the third quarter, according to preliminary estimates, will not exceed the market that will not require provision of discounts, said energy Minister Alexander Novak in interview to TV channel “Russia-24” (VGTRK).

“The price (for Ukraine) will be determined by the formula in accordance with the current contract, with reference to the cost of oil for several blocks. Now at the end of the quarter the corresponding calculations for the third quarter will be done,” he said.

“Most likely, according to preliminary estimates, it will be competitive prices, at a level not above the market. If prices are market, no discounts are not required,” – said Novak.

7 June it was reported that “Naftogaz of Ukraine” expects the purchase price of imported gas in the third quarter of 2016 below $200 per thousand cubic meters.

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But then on June 10 the Director of business development, National joint-stock company (NAK) “Naftogaz Ukraine” Yuri Vitrenko suggested that the price of Russian natural gas for Ukraine in the third quarter to be at least $177 per thousand cubic meters. Their methodology is built on the fact that on June 9 the German market (NCG hub) price for July was below $173 per one thousand cubic meters. Therefore, according to Vitrenko, the market price of Russian gas for Ukraine should be determined according to the “German hub minus transport him from the border of the Russian Federation-Ukraine”.

“Therefore, we in these conditions (price $177 in the third quarter) of gas from Gazprom to buy all will not. All the necessary buy gas on the European market. The benefit with this we have problems now, no, no,” – wrote in his Facebook one of the leaders of “Naftogaz”.