REUTERS National Joint-Stock Company Naftogaz of Ukraine will slightly raise the minimum prices of natural gas for industrial consumers from August 1, 2020. The price will grow to UAH 2,982, or US$107.81 (excluding VAT and transportation costs) per 1,000 cubic meters from UAH 2,975, or US$107.56, in July 2020, the company said in a statement. How price ceiling changes At the same time, the maximum prices of natural gas for industrial consumers will be increased by 0.5% from August 1, 2020, to UAH 3,474, or US$125.60 (excluding VAT and transportation costs) per 1,000 cubic meters from UAH 3,458, or US$125.02. Naftogaz quotations depend on the volume of purchases and payment terms, the company said. Read alsoNaftogaz starts drilling new gas well in Kherson region 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. Background The price of natural gas for households was UAH 2,570 (US$92.91) per 1,000 cubic meters in June 2020. The government intended to launch the gas market from July 1 and cancel special obligations for suppliers to deliver gas to households at reduced prices, which meant citizens would have to buy gas at market prices. On June 23, 2020, Naftogaz published gas prices for the next month for industrial consumers who are not subject to the provisions on public service obligations. In July, the price of gas on the terms of advance payment was UAH 3,570 (US$129.07) per 1,000 cubic meters, while on the terms of postpayment it was set at UAH 4,150 (US$150.04).