National JSC Naftogaz of Ukraine has notified Gazprom (Russia) in advance about a reduction in the amount of natural gas to be purchased in 2012, the Ukrainian company's media liaisons office has reported, according to UKRINFORM.

The company said that the current contract of January 19, 2009 between Naftogaz of Ukraine and Gazprom regarding the purchase and sale of natural gas in 2009-2019 "envisages the possibility of changing the annual amount of natural gas supplies."

"Taking into account the high price of imported natural gas, in particular, in the fourth quarter of 2011 it amounted to about USD 400 [per 1,000 cubic meters] given a discount provided under the Kharkiv agreements, the needs of Ukraine's economy for this energy resource considerably reduced in 2012," the company said.

"In this regard, and in accordance with the provisions of the contract and in the terms defined by it, Naftogaz of Ukraine sent about ten letters to Gazprom asking it to agree natural gas supplies to Ukraine in 2012 in the amount of 27 billion cubic meters, which the company undertakes to select and pay for under the existing contract," the press service of Naftogaz reported.

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