Ukraine Cuts Natural Gas Import 50 Percent
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Ukraine Cuts Natural Gas Import 50 Percent

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Ukraine Cuts Natural Gas Import 50 Percent PR Newswire KYIV, Ukraine, June 26, 2012 KYIV, Ukraine, June 26, 2012 /PRNewswire/ -- Ukraine decreased the amount of imported natural gas by 48.

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Ukraine Cuts Natural Gas Import 50 Percent
PR Newswire
KYIV, Ukraine, June 26, 2012
KYIV, Ukraine
,
June 26, 2012
/PRNewswire/ --
Ukraine
decreased the amount of imported natural gas
by 48.77 percent over the first five months of 2012,
compared to the respective period of 2011. The volume
of imported gas in January -
May 2012
reached 12.8
billion cubic meters.
Ukraine
paid
USD 416
per thousand cubic meters of imported gas in Q1 2012.
The price increased in the second quarter of 2012 - reaching
USD 425
. These
price tags include a
USD 100
discount, agreed by the parties in 2010. Average
price European countries pay for Russian gas in 2012 amounts to
USD 415
,
according to
Neft Rossii
.
Ukraine
is negotiating the decrease of gas price - to
USD 250
.
Ukraine
will have
to spend almost 27 percent of its estimated budget income in 2012 on Russian
gas (
USD 8-10 billion
). This is more than the country plans to spend on
healthcare in the c.y., noted the Prime Minister of Ukraine Mykola Azarov.
The country seeks to agree on lower gas price with
Russia
, as well as lower its
gas consumption and increase domestic energy production. In
June 2012
, the
Ministry of Energy and Coal Industry of
Ukraine
informed that over the first five
months of 2012 Ukraine increased its own production of natural gas by 146.7
million cubic meters compared to the respective period of 2011.
Achieving energy independence has become top priority for the President of
Ukraine Viktor Yanukovych, said the Ukrainian Energy and Coal Industry
Minister Yuriy Boyko on
June 5
th
. The State Program on Energy Efficiency 2010-
2015 sets the goal for improving
Ukraine's
energy independence.
According to the program,
Ukraine
will reduce domestic energy consumption
through increasing energy efficiency, developing unconventional gas
production, developing domestic gas reserves, introducing green energy
production technology, and diversifying gas import.
Importing up to 70 percent of natural gas from
Russia
,
Ukraine
is negotiating a
number of gas importing deals with
Azerbaijan
,
Germany
,
Iraq
,
Norway
,
Romania
,
Turkey
, etc.
Ukraine
plans to finish the construction of its billion cubic
meter LNG terminal at the Black Sea by 2014, grasping the opportunity to
arrange gas import from a wider range of suppliers.
Additionally,
Ukraine
sets up its own shale gas production. "The first license
tenders have been awarded to Shell and Chevron," noted Boyko.