Ukraine hopes to buy gas from Europe at $380-400

Ukraine hopes to buy from Europe reverse natural gas at $380-400 per 1,000 cubic meters and plans to diversify energy supplies, Ukraine’s Acting Minister of Energy and Coal Industry Yuriy Prodan said on March 20 after a meeting with the EU's Energy Commissioner Gunther Oettinger, Itar-Tass has reported.

Prodan said if Gazprom revoked “the current discount for natural gas to Ukraine, its price will make $378-379 per 1,000 cubic meters, which is about the level of spot prices in Europe, where the range is between $350 and $400.”

“We must receive gas at market, not politically motivated prices,” he said. “Thus $380-400 is nothing critical.”

Prodan forecasted Ukraine would import 27-29 billion cubic meters of natural gas during the current year.

Copyright: Itar-Tass, 2014