Naftogaz to cut gas prices for industry by 13.5% from July 1

National Joint-Stock Company Naftogaz of Ukraine will cut minimum prices of natural gas for industrial consumers from July 1, 2019, by 13.5%, from UAH 6,963.6 ($264) per 1,000 cubic meters in June 2019 to UAH 6,020.4 ($228).

At the same time, the price ceiling for industrial consumers will be lowered by 12.7% on July 1, 2019, from UAH 7,707.6 ($292) per 1,000 cubic meters to UAH 6,727.2 ($255), the company said in a statement.

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

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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 7.9% on June 1, 2019, against May 2019.

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.