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 Russian PM Medvedev approves discounted gas price for Ukraine in Q1 of $179 per TCM

Russian Prime Minister Dmitry Medvedev has signed the decree regulating gas price for deliveries to Ukraine in the first quarter of 2016.

The announcement was published on the official website for legal information, Censor.NET reports citing Interfax.

The message reads that the previously set gas price in Q1 will be $230 per one thousand cubic meters (TCM), and the discount applied will be $51.2 per TCM. Thus, the price offered will be about $178.7 per TCM.

Earlier, Ukraine's energy and coal industry minister Volodymyr Demchyshyn announced that Ukraine was ready to buy Russian gas in the first quarter of 2016 at the price under $200 per TCM.

"Russians understand that in order to be competitive they need to decrease the price under $200, and these are not some kind of discounts, but market conditions," he said.

Read more: "We expect natural gas price under $200," - PM Yatseniuk

The Russian side estimates the price for Ukraine's Naftohaz by offering a discount in form of special customs duties, aligning with spot gas prices in Europe.

At the moment, forward contracts for the Q1 are traded on European hubs at $170 per TCM.

 
 
 
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