Naftogaz raises gas prices for industry from Oct 1

National Joint-Stock Company Naftogaz of Ukraine will raise the minimum prices of natural gas for industrial consumers by 9.7% as of October 1, 2018, to UAH 13,438.8 ($479) per 1,000 cubic meters from UAH 12,249.6 ($437) per 1,000 cubic meters in September 2018.

At the same time, the maximum prices of natural gas for industrial consumers will be increased by 9.4% as of October 1, 2018, to UAH 14,586 ($520) per 1,000 cubic meters from UAH 13,338 ($475) per 1,000 cubic meters, the company said in a statement.

Read alsoNaftogaz CEO: Ukraine's government, IMF agree on gas price hikes for households

Naftogaz's quotations are differentiated depending on the volume of purchase, terms of payment, and payment records, the company said.

If a buyer has no debts before Naftogaz or intends to buy at least 50 million cubic meters of gas per month, the minimum price is applicable. In other cases, buyers are to pay a higher price.

All prices include VAT.

As UNIAN reported earlier, a new law on the natural gas market came into force in Ukraine on October 1, 2015, which deprived Ukraine's National Energy and Utilities Regulation Commission of the right to establish prices of natural gas for the industry.

UNIAN memo. NJSC Naftogaz of Ukraine is the largest state-run vertically integrated oil and gas holding whose subsidiaries account for about 90% of oil and gas production in Ukraine. Naftogaz develops oil and gas fields, produces crude oil and natural gas. Its core business is also transportation and trade in fuel through its own network of filling stations.

In 2017, Naftogaz paid more than UAH 100 billion ($3.6 billion) in taxes and dividends to the national budget. Last year, the state holding increased net profit by 48%, to UAH 39.3 billion ($1.4 billion).