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19 August 2017
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Ukraine convinces Russia to discuss revision of gas pricing formula – Prime Minister

Ukraine`s energy firm...

Kiev has convinced Moscow to discuss revision of the gas pricing formula that ties the gas price to oil prices, which have been steadily rising, Prime Minister Mykola Azarov said on Wednesday after a meeting with his Russian counterpart Vladimir Putin, according to RIA Novosti.

"The main positive result of the discussion is that the Russian prime minister has promised to instruct his deputy (Igor) Sechin to discuss the validity of the gas pricing formula for Ukraine with the Ukrainian government during his visit to Ukraine on April 19," Azarov told a cabinet meeting.

Ukraine`s energy firm Naftogas expects the Russian gas price to edge up to $280 per 1,000 cubic meters in the second quarter.

Azarov said on Tuesday it was necessary to speed up the preparation of a new gas agreement between Kiev and Moscow.

The existing contract was signed in 2009 by the then Prime Minister Yulia Tymoshenko. Earlier this week, Ukraine`s state prosecutor`s office launched a criminal case against Tymoshenko, now an opposition leader, over abuse of power linked to the signing of the contract.

The government of President Viktor Yanukovych, her rival, has long urged Russia to review the pricing formula but talks have not been successful so far. In 2010, Naftogaz and Gazprom signed an additional agreement with a discount of $100 per 1,000 cubic meters.

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