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    Worldwide News Ukraine: Ukraine Imports the Most Expensive Gas in Europe - Vice Prime Minister

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Summary

According to Vice Prime Minister Serhiy Tihipko, Ukraine overpaid 6 billion dollars for natural gas imports in 2011. Ukraine is still paying prices in accordance with a 2009 contract negotiated by former PM Yulia Tymoshenko. January - May 2012 Ukraine decreased the amount imported in order to gain energy independence.

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Worldwide News Ukraine: Ukraine Imports the Most Expensive Gas in Europe - Vice Prime Minister

In 2011 alone Ukraine overpaid 6 billion dollars for natural gas, Ukraine's Vice Prime Minister Serhiy Tihipko said in his interview with the British newspaper The Telegraph. "We [Ukraine] have the most expensive gas in Europe… and we are not the richest country in Europe," said Tihipko.

In Q2 2012 Ukraine paid an average of USD 425 dollars per thousand cubic meters of imported Russian gas. This price already includes the USD 100 discount Ukraine and Russia negotiated in 2010. With the existing price, the country has to pay almost 27 percent of its estimated budget revenues in 2012 for Russian gas. Comparably, Italy is charged USD 410, while Germany and Slovakia pay USD 379 and USD 333 respectively, according to FT.  MORE

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