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The company will reduce gas prices for industrial consumers by almost 8% in June.
CEO of National Joint-Stock Company Naftogaz of Ukraine Andriy Kobolyev says the company will cut the selling gas prices for households by 8% to UAH 5,803 (US$219) per 1,000 cubic meters (excluding VAT, as well as transportation and distribution costs) from July 1.
Read alsoNaftogaz proposes cutting price of gas for households
"Gas in the international market is getting cheaper again. Due to this, Naftogaz will reduce gas prices for industrial consumers by almost 8% in June. According to the government's decision, the price of Naftogaz for commercial consumers forms the gas price for households, which is to be valid next month. Therefore, in July, Naftogaz will be selling gas for households' needs at a price almost 8% cheaper, i.e. UAH 5,803 per 1,000 cubic meters (without VAT, as well as transportation and distribution costs)," he wrote on Facebook on May 27.
As UNIAN reported earlier, Naftogaz will cut the minimum prices of natural gas for industrial consumers by 7.9% from June 1, 2019, from UAH 7,558 ($286) per 1,000 cubic meters in May 2019 to UAH 6,963.6 ($263). All prices are VAT included.
Given the decline in gas prices on the European market, the Ukrainian government and Naftogaz agreed to cut regulated gas price for households and heat producers to market level in May 2019, from UAH 8,550 (US$323) per 1,000 cubic meters to UAH 8,247 ($312).
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.