Ukraine to save more than USD 5bn on Russian gas if joins Customs Union.

By bne IntelliNews May 22, 2012
Ukraine can save around USD 5.1bn in a price of Russian gas if it joins the Customs Union in 2012, provided that 27bn m3 of gas are purchased, Valentyn Zemliansky, an independent expert and former spokesman for Naftogaz, told UKRINFORM. If Ukraine joined the Customs Union, the objective price of gas would be about USD 230-250 per 1,000 m3 against the current average price of Russian gas for Ukraine at USD 440 per 1,000 m3, the expert explained. Zemliansky said that if a tripartite consortium to manage the Ukrainian gas transit system is set up, the Russian gas price for Ukraine would range between USD 300-350 per 1,000 cubic meters.

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