Ukraine lowers gas imports almost 45% y/y in H1.

By bne IntelliNews July 31, 2012
In H1, Ukraine has lowered gas imports by 44.48% y/y to 15.9bn m3, the Energy ministry has announced. At the end of June, gas imports into the country reduced by 19.2% y/y to 3.1bn m3. In m/m terms, in June, gas imports declined by 43%. The consumption of natural gas in H1 went down by 6.8% y/y to 30.9bn m3. In June, gas consumption reduced by 11.3% y/y and amounted to 2.1bn m3. According to the approved gas balance, gas imports in 2012 should total about 35bn m3, which is 21.9% less than the actual import figures in 2011. Russian Gazprom showed concern over the reduction of gas imports by Ukraine and intends to resume talks on lowering gas prices, an undisclosed source told to the Kommersant Ukraina newspaper. At the same time, the press service of Gazprom made no official comments on this. Gazprom previously offered to reduce prices by 10%. However, Ukrainian officials insist that the price should be reduced from the current USD 415 to 230-250 dollars per thousand cubic meters.

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