The price for Russian gas supplied to Ukraine is significantly lower than the spot price established in the continental Europe, Gazprom CEO Aleksey Miller told journalists, responding to the question whether Ukraine complains justifiably about the high gas prices.

"For example, last Friday, the British trading floor had the gas price of 800 USD per thousand cubic meters that is almost twice more the price under which Gazprom supplies gas to Ukraine within the long term contracts," Miller reminded.

At the moment, the supply of gas "for a day" at the UK National Balancing Point (NBP) natural gas trading hub costs 98 pence per therm ($ 525), and contracts for Tuesday are made for 100 pence ($ 536). Ukraine tries to compete with Gazprom in Germany, but the gas price at the German NCG hub for delivery on Monday costs 521 USD. The price for Russian gas supplies of Naftogaz for the first quarter amounts to 406 USD.

"Now we clearly see the process of changing the main vector of energy supplies, including the spot market, which is moving from Europe to the Asia-Pacific region, which is more promising and capacious. In January, Qatar reduced volume of supplies to the British spot area by 30% compared to last year. This fact also pushes to increase the European gas prices. Ukraine will not stand the spot prices," the Gazprom CEO warned.

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