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Thursday, February 9, 2012

Ukrainian PM sees economic advantage of coal usage if price tops UAH 1600 per thousand cubic meters

Thu, 09 Feb 2012

Ukrainian News Agency reported that Mr Mykola Azarov Prime Minister of Ukraine thinks usage of coal will be economically advantageous if the gas price exceeds UAH 1,500 of UAH 1,600 per thousand cubic meters.

He said that "If the gas price exceeds fifteen of sixteen hundred hryvnias, coal usage becomes more economical for us."

In his words, the current price for imported gas is much higher, that is why it is necessary to employ the available domestic resource to the maximum possible extent.

As Ukrainian News earlier reported, Ukraine since mid 2011 has been in negotiations with Russia on lower price for gas; it has plans to cut gas imports to 27 billion cubic meters in 2012.

With the 2009 contracts Ukraine is bound to buy at least 33.3 billion cubic meters of gas from Russia a year.

As to Mr Azarov, currently the price makes round USD 416 per thousand cubic meters.

National Security and Defense Council Secretary Mr Raisa Bohatyriova assumes that price for the gas imported from Russia may be USD 700 per thousand cubic meters if the cost of oil at the world markets hits USD 150 per barrel.

(sourced www.un.ua)

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