You're reading: Naftogaz transfers around $860 million to Gazprom in June gas payments

Ukrainian national oil firm Naftogaz Ukrainy transferred around $860 million to Russian gas giant OJSC Gazprom, thereby fully paying for natural gas supply to the country in June 2011, the former company told Interfax on Thursday.

The natural gas price for the second quarter of 2011 came to $297 per 1,000 cubic meters, the company said.

Naftogaz Ukrainy has been paying its debt for gas imports on time, in-full and on a monthly basis, the company said.

According to the Fuel and Energy Dispatch Center (TsDU TEK), Ukraine received 28.969 billion cubic meters of gas between the year’s start and July, which is 13.826 bcm, or 91.3%, above the total import for the same period of 2010.

It was earlier reported that the Ukrainian state holding imported $1.4 billion in gas in January, February – $1.6 billion, March – $1.25 billion, April – $948 million and May – $950 million.

According to data from Russia’s Fuel and Energy Central Dispatch Service, National joint-stock company Naftogaz Ukrainy has reduced the amount of gas it imports from Russia by about 50% in July compared with June.