REUTERS
The revenues of Russian gas giant Gazprom shrank by 70% over the first two months of 2015, with the Russian Federal Customs Service reporting a decline in Gazprom’s revenues from gas exports in January-February to $7.4 billion, according to Radio Liberty.
Russia’s gas exports decreased from 37.4 billion cubic meters in January-February 2014 to 27.5 billion cubic meters in the current year. Of this, 18.7 billion cubic meters was exported outside the CIS countries and 8.8 billion cubic meters within the CIS.
The Federal Customs Service also stressed that since January last year, the average gas price has fallen from $334 per 1,000 cubic meters to $269
As earlier reported, on April 1, Naftogaz and Gazprom agreed to set the final price for gas supplies to Ukraine at $247.18 per 1,000 cubic meters, which will be valid until the end of the second quarter of this year.
According to Gazprom CEO Alexei Miller, the deal sets the new gas price while leaving intact the other clauses of the so-called "winter package," which expired on March 31.
Under the winter package struck in October under the mediation of the European Union, Ukraine paid Russia $329 per 1,000 cubic meters in the first quarter of 2015, which is about $100 below the regular price.
Ukrainian Energy Minister Volodymyr Demchyshyn said he hopes that the tripartite negotiations with the EU scheduled for April 14 will ensure the legal terms are in place for Russian gas supplies until the end of the upcoming heating season of 2015-2016.