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Russia plans to raise gas price for Ukraine in the first quarter of 2017
16:50, 16 December 2016
Russia plans to raise gas price for Ukraine in the first quarter of 2017

It is still unknown how much the price will increase

16:50, 16 December 2016

Open source

Russia intends to raise the price of gas for Ukraine in the I quarter of 2017. This was stated by Russian Energy Minister Alexander Novak, "RIA News" reported.

According to Novak, the increase in the price of "blue fuel" is still unknown, but the figure will be determined before the end of December.

"According to the formula (price - ed.), probably, yes, it will be higher because there is a time lag, it is impossible to say how much right now, we will need to calculate it at the end of the month by formula," he said.

At the same time, Novak explained that the calculation of the gas price is tied to the average cost of oil on the stock exchange for the last 9 months. On the background of rising oil prices the cost of gas is also increasing.

It is noteworthy that Ukraine is not buying gas from the Russian Federation since November 2015. At the same time, Ukraine continues to purchase transit gas from the EU. In November 2016, "Naftogaz" stated its readiness to resume purchases of gas from Russia under the terms of the previous "winter package" but has recently changed the decision. The Chief Executive Officer of Ukrainian state energy company Andriy Kobolyev said that "Naftogaz" does not plan to buy natural gas from PJSC "Gazprom" until the end of winter.

Related: Gas talks: Russia to demand that Ukraine lifts anti-monopoly fine from Gazprom

Related: Stockholm arbitration finished hearing on case of “Naftogaz” against “Gazprom”

Related: Ukraine expects to win in Stockholm arbitration in March, - Poroshenko

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