Naftogaz to cut down gas prices for industry from Feb 1

At the same time, the maximum prices of natural gas for industrial consumers will be reduced by 5.5% on February 1, 2018, from UAH 10,732.8 ($373) per 1,000 cubic meters to UAH 10,141.2 ($352).

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

Read alsoNaftogaz CEO: Ukraine should resume imports of Russian gas in 2018As UNIAN reported earlier, a new law on the natural gas market came into force in Ukraine on October 1, 2015, which deprived Ukraine's National Energy and Utilities Regulation Commission of the right to establish prices of natural gas for the industry.

Naftogaz raised the minimum prices of natural gas for industrial consumers by 8.4% in January 2018, to UAH 9,772.8 per 1,000 cubic meters against December 2017, as well as increased the maximum prices by 8.2%, to UAH 10,732.8 per 1,000 cubic meters.