You're reading: Demchyshyn says price of Russian gas for Ukraine will be lower than $247 per 1,000 cubic meters in Q1

Energy and Coal Industry Minister of Ukraine Volodymyr Demchyshyn has said that Ukraine will buy Russian gas in the third quarter of 2015 at a price lower than $247 per 1,000 cubic meters.

“I’m sure that the price will be lower than today – $247. The price for the third quarter will be lower. It will be decided during negotiations what the price will be,” he said on the Fifth TV Channel last week.

The minister said that negotiations with Russia’s Gazprom continue. He believes that in two weeks an agreement on the price of gas could be reached.

He said Ukraine insists that the gas agreements will be in effect until the end of the heating season of 2015-2016.

The minister said that the Russian gas transit fee via Ukraine should be higher and total around $5 per 1,000 cubic meters each 100 kilometers.

“It is set too low for sure. Yes, it is fixed in the long-term agreement, but we raised the issue several times. We insist that we receive not enough money for transit. Today the transit fee is $2.8. Actually the price should be around $5,” the minister said.