Russian gas export monopoly Gazprom said at a news conference in New York on Thursday that Ukraine would pay more for gas in 2008, but negotiations would determine the price, according to Reuters.

Gazprom has agreed to increase the current price it pays for gas from Turkmenistan of $100 per 1,000 cubic meters , by 30 percent to 50 percent next year.

Much of the Turkmen gas goes to Ukraine and analysts say the decision could lead to rises of 40 percent for the price Ukraine pays for its imports.