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Gazprom admits gas price increase to Europe by 10%
11:08, 28 February 2017
Gazprom admits gas price increase to Europe by 10%

Last June, Gazprom unveiled gas price for Ukraine down to 167 US dollars for Ukraine in the III quarter of 2016

11:08, 28 February 2017

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Unit value of exports of Gazprom’s gas to Europe will increase by 10% approximately. Alexandr Medvedev, the Executive Vice President of the gas consortium announced that, reported by TASS.

According to Medvedev, the unit value of exports to Europe shall reach 180 – 190 US dollars per 1 000 cubic meters in 2017, compared to that of 2016 – 167 US dollars. He also noted that the “contract portfolio contains versatile pricing patterns, thus the forecast for 2017 is not as easy as it used to be.”

Related: Poland starts project on gas connection with Ukraine

Medvedev also pointed out that the “weighted average price for supplies to CIS and Baltic countries was 152 dollars per 1 000 cubic meters in 2016.

Previously, Gazprom unveiled gas price for Ukraine down to 167 US dollars for Ukraine in the III quarter of 2016. The company explained that by the changes in the exchange rate and oil price behavior.

Related: Third gas crisis: Chronicles of new Gazprom war against Ukraine

As it was reported earlier, Russian Energy Minister Alexander Novak announced that Russia intended to raise the price of gas for Ukraine in the I quarter of 2017.

Related: Morten Petersen talked to 112.international about energy dependency

Kyiv Commercial Court of Appeal has confirmed recovery of $6.4 billion in fines and penalties from Gazprom, which were imposed on it by the decision of Commercial court by request of Anti-Monopoly Committee of Ukraine. Thus, the decision of Commercial Court from December 5, 2016, on collecting a total of $6.4 billion in fines and penalties from Gazprom PJSC for the misuse of monopoly position on the market of transit gas remains in force. 

Related: SBU to lift sanctions imposed on 15 liquefied gas importers

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