Naftogaz to cut gas prices for industry by 19% from April 1

National Joint-Stock Company Naftogaz of Ukraine will cut the minimum prices of natural gas for industrial consumers from April 1, 2019, by 19%, from UAH 8,886 ($329) per 1,000 cubic meters in March 2019 to UAH 7,188 ($266).

Read alsoUkrainians to pay for gas 2% below government-set price in April

At the same time, the maximum prices of natural gas for industrial consumers will be cut by 23.6% on April 1, 2019, from UAH 9,792 ($363) per 1,000 cubic meters to UAH 7,749.6 ($287), the company said in a statement.

Naftogaz quotations are differentiated depending on the volume of purchase and payment terms, the company said.

If a buyer has no debts before Naftogaz or intends to buy at least 50 million cubic meters of gas per month, the minimum price is applicable. In other cases, buyers are to pay a higher price.

All prices are VAT included.

As UNIAN reported earlier, Naftogaz reduced prices of natural gas for industrial consumers by 3.3% on February 1, 2019 against January 2019.

Ukraine's government on October 19, 2018, decided to raise gas prices for households by 23.5% from November 1, 2018, to UAH 8,550 ($317) per 1,000 cubic meters.

UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.