You're reading: Ukraine considers price of $268.5 per 1,000 cubic meters when repaying gas debt

Ukraine, when calculating the debt for Russian gas, still considers its price of $268.5 per 1,000 cubic meters, the Ministry of Energy and Coal Industry said after the next round of tripartite gas consultations held in Brussels on Oct. 21.

“The parties expressed their joint position on such matters as the schedule of Ukraine’s repaying $3.1 billion of debt for the previous supplies of Russian gas on the basis of the price of $268.5,” reads a statement.

The agency said that the first tranche of $1.45 billion is to be paid by the end of October, and the remaining $1.65 billion – by the end of the year.

At the same time, Russian Energy Minister Alexander Novak after the talks said that the size of Naftogaz’s unpaid debts to Gazprom amount to $5.3 billion.

As reported, the price of $268.5 per 1,000 cubic meters was valid in the first quarter of 2014, afterwards Gazprom raised it to $485 per 1,000 cubic meters. However, Naftogaz refused to pay such a price, and on June 16 the Russian company halted supplies.