European gas price under some contracts falls lower that Gazprom's price – Naftogaz

The price of natural gas from the European Union under some contracts with national joint-stock company Naftogaz Ukrainy has fallen to the level that is lower than the price of Russia's Gazprom, Business Development Director at Naftogaz Yuriy Vitrenko has said.

"Last week we've signed an agreement at the price lower than Gazprom's [price]. This week we also buy at the price lower than Gazprom's [price]," he said.

Vitrenko said that depending on the comparison of gas prices on European markets and the price from Gazprom, the company would select the direction and volumes that Ukraine would buy.

"Further payments [for gas] to Gazprom first depend on consumption in our country that depends heavily on weather and energy efficiency, and on the other hand, on price performance on European markets," he said.

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