Transit of Russian natural gas via 100km of Ukrainian territory in the coming four years will cost less than $1.60 per 1,000 cu m, Russian energy giant Gazprom Deputy Board Chairman Alexander Medvedev said Monday, RIA Novosty reported.

Medvedev said Gazprom had earlier tranferred $1-billion upfront money to Ukraine as payment for the transit, making the actual transit rate $1.09 per 1,000 cu m for 100km.

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