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Gazprom lowers gas price for Ostchem to USD 260/tonne

October 10/2013

MOSCOW (MRC) -- Russian gas monopoly, Gazprom, in order to fill the underground gas storage facilities has reduced the price for natural gas from about USD 390-400 to USD 260 per thousand cubic meters for the Ostchem Holding, which belongs to the Group DF of businessman Dmitry Firtash, said Ukrainian News agency.

The source has noted that the Naftogaz of Ukraine national joint-stock company, which also imports gas to Ukraine had not obtained gas discounts from Gazprom. Earlier, Minister of Energy and Coal Industry Eduard Stavytskyi had said that under preliminary data, the price for gas acquired by national joint-stock company from Gazprom will make up about USD 410 per thousand cubic meters in October-December 2013.

On October 8, Russian President Vladimir Putin told a press conference that Gazprom had lowered gas price for Ukraine to USD 260 per thousand cubic meters in order to pump it into underground gas storage facilities.
"Having informed the Russian authorities, Gazprom helped Ukraine to pump in the required amount of gas into underground gas storage facilities at the discount of USD 260 per thousand cubic meters. Approximately, and I may be mistaken in some, several dollars, when recently the price for Ukraine had been USD 400, and now it is about USD 380-390 per thousand cubic meters," he said.

At the same time, Putin did not specify the name of the importer, who obtained the said discount. In September, Firtash said that Ostchem planned to accumulate 6-6.5 billion cubic meters of natural gas in the Ukrainian underground gas storage facilities by November (then there were about 1.3 billion cubic meters of Ostchem's gas).
Besides, he added that in view of the increase in gas pumping into underground gas storage facilities, Gazprom would increase the transit of the fuel through the territory of Ukraine.

In August, the average customs cost of the natural gas imported by Ukraine (taking in account supplies from Europe) decreased by 3.2% to USD 393.5 per thousand cubic meters as against July. In July 2013, Ukraine imported natural gas from Europe at the price of USD 394.92 per thousand cubic meters and from Russia at USD 401.52 per thousand cubic meters.

As Ukrainian News earlier reported, in May the Cabinet of Ministers approved the expected balance of importation and distribution of natural gas for 2013 with the amount of imports of 27.3 billion cubic meters of gas.
Of the total amount of importation, Gazprom will deliver 18 billion cubic meters, RWE Supply & Trading (Germany) - 1.3 billion cubic meters, Ostchem (from Russia) - 8 billion cubic meters.

As MRC wrote before, Mr. Dmitry Firtash, Head of the Board of Directors Group DF, projected that the volume of domestic mineral fertilizers market will double by 2017. According to the outlooks published by OSTCHEM (a company operating Group DF"s nitrogen chemical productions), by 2017 the nitrogen fertilizers consumption volumes will rise from the current 950 thousand tons up to 2 million tons, phosphates - from 225 up to 460 thousand tons, potassium fertilizers - from 125 up to 270-280 thousand tons.

OSTCHEM is an asset management company consolidating efforts of Group DF"s nitrogen chemical industries: STIROL Concern (Gorlovka), Severodonetsk Azot, Cherkassy Azot, Rivneazot.
Author:Anna Larionova
Tags:PS, min.udobreniya, Gazprom, Concern Stirol.
Category:General News
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