Naftogaz to cut gas prices for industry by almost 20.7% from June 1

National Joint-Stock Company Naftogaz of Ukraine will cut the minimum prices of natural gas for industrial consumers by 20.7% from June 1, 2020, to UAH 2,713, or US$101 (excluding VAT and transportation costs) per 1,000 cubic meters from UAH 3,421, or US$128, in May 2020.

At the same time, the maximum prices of natural gas for industrial consumers will be cut by 19% from June 1, 2020, to UAH 3,182, or US$119 (excluding VAT and transportation costs) per 1,000 cubic meters from UAH 3,929, or US$147, the company said in a statement.

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Naftogaz quotations depend on the volume of purchases and payment terms, the company said.

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.