Ukraine to Wait for Gas Price Cut From Gazprom

Reuters reported yesterday that Ukraine turned down a proposal to cut gas prices by 20 percent. According to Reuters, the country wants changes to its 2009 take-or-pay contract with Russia’s Gazprom that require it to pay $485 per tcm of natural gas.

As quoted in the publication:

Remarks by the prime minister and energy minister made clear Kiev was not changing its stance at talks with Moscow, despite the threat of Russia cutting supplies to Ukraine if no deal is reached – a scenario that could disrupt deliveries to Europe.

Click here to read the full Reuters article.