Ukraine to cut purchase of Russian gas by 20% in 2009

The gas contract between Naftogaz and Gazprom foresees that Ukraine will buy 40 billion cubic meters of gas this year. The document also envisages that during one quarter, Naftogaz can decrease the amount of gas bought from the Russian company.

Fuel consumption is falling due to the crisis. Ukraine usually consumes around 70 billion cubic meters of gas each year, however, as a result of the crisis, the demand for fuel could fall by 30%, reads the newspaper.

In January 2009, Naftogaz and Gazprom agreed the gas price and signed a gas supply contract until 2019. This year, Ukraine will get Russian gas at a 20% discount on the market-oriented gas price set according to a special formula. Starting from 2010, the country will buy Russian gas without any discounts.