Naftogaz CEO: Ukraine should resume imports of Russian gas in 2018

"From this year, we will have to import the minimum volumes... We, at Naftogaz, do not consider this to be a negative aspect. Gazprom's obligations to sell us five billion cubic meters at a price below the European one is a positive aspect from the point of view of both Naftogaz and the consumer," Kobolyev said at a press conference.

Read alsoRussian gas return to Ukraine to cost EU traders $1 bln – mediaAs UNIAN reported, at the end of November 2015, Ukraine refused to purchase natural gas from Gazprom. In 2017, Ukraine increased gas imports from other countries by 26.8%, to 14.1 billion cubic meters (bcm). Gas for domestic needs is imported only from the territory of European countries.

The Arbitration Institute of the Stockholm Chamber of Commerce on December 22 completely rejected Russia's Gazprom take-or-pay claims against NJSC Naftogaz of Ukraine amounting to US$56 billion for 2009-2017. Naftogaz succeeded at reducing volume obligations under future contracts in 2018-2019 by over 90%, from 52 bcm to 5 bcm, and made them relevant to its actual import needs, reads the report. The price of gas bought by Naftogaz in the second quarter of 2014 was reduced by 27.4% from US$485/tcm to US$352/tcm.