Ukraine, Russia to further discuss Russian gas price formula.

By bne IntelliNews April 14, 2011
The Russian Deputy Prime Minister Igor Sechin will visit Ukraine on Apr 19 to further discuss Russian gas price formula. Ukraine is hoping to lower the price of natural gas imported from Russia to an economically justified level. At the moment, the price of imported gas for Ukraine is calculated on basis of a formula for each quarter. In Q1, the price of imported gas was at USD 264 per thousand cubic meters. The Ministry of Energy and Coal Industry expects that the price for imported gas for the Q2/2011 at USD 293 a thousand cubic meters, USD 313 a thousand cubic meters for the Q3 and USD 347 a thousand cubic meters for the Q4.

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