Tuesday, November 10, 2015

Ukraine to buy Russian gas only at reasonable price — (Naftogaz)

Ukraine's national oil and gas company Naftogaz will buy Russian gas only at favorable market environment and as deemed necessary, Chief Executive Officer Andrey Kobolev said on Tuesday.

"We’ll be paying for Russian gas as deemed necessary. In case we need it we buy, in case we don’t need it we don’t buy. We’ll be buying in case we see favorable environment. If we assume that the price will go down why should we buy what will be cheaper a week later?" Kobolev was quoted as saying by UNIAN news agency.

Earlier on Tuesday Gazpom CEO Alexey Miller said Ukraine had reduced Russian gas purchases by 4 times compared with the beginning of the current month. "Ukraine has reduced volumes of its gas purchases from Russia due to Naftogaz financial deficit compared with the beginning of the month by 4 times — to 10 mln cubic meters per day. 

Simultaneously, its purchases from Europe are also declining. Thus, as of now at the current low level of gas offtake paid-up gas will only suffice for 4 days — till Saturday, November 14," Miller said.

Price for Russian gas for Ukraine in Q4 2015 stood at $227.5 per 1,000 cubic meters.


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