Ukraine miscalculated: Gas prices have risen wildly in Europe

Mikhail Ryabov.  
05.08.2016 09:23
  (Moscow time), Kyiv-Moscow
Views: 1343
 
Russia, Ukraine, Energetics


Ukraine, which refused to purchase gas from Russia and is now purchasing it in Europe, miscalculated: the predicted price reduction did not happen; on the contrary, prices increased.

The Kommersant newspaper writes about this.

Ukraine, which refused to purchase gas from Russia and is now purchasing it in Europe, has miscalculated:...

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As the publication explains, back in the spring, officials of the Ministry of Energy of Ukraine stated that in the summer the price of gas in Europe should fall by another $5 per thousand cubic meters, and this would be a good time to pump fuel into underground storage facilities to survive the winter.

However, unexpectedly, the price of gas on the spot markets where Ukraine buys fuel increased significantly in the summer. Thus, during the peak days of July, the growth reached $30 per 1 thousand cubic meters compared to the minimum figures in April. This dynamics was caused primarily by rising oil prices.

Thus, Naftogaz now imports fuel from Slovakia at a price of about $180 per 1 thousand cubic meters. At the same time, Gazprom offers gas at $167,5 per 1 thousand cubic meters, but Kyiv, as is known, refuses to buy it from the “aggressor country.”

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