Iterfax reported that Naftogaz Ukrainy and OstChem Holding Limited imported 18.738 billion cubic meters of Russia natural gas worth USD 7.934 billion in January to July 2012.

According to the Ukrainian State Statistics Service, Ukraine imported 2.8227 billion cubic meter of Russian gas in July 2012 worth USD 1.0297 billion. The average price for Russian natural gas imported in July was USD 428.59 per 1,000 cubic meters.

Naftogaz Ukrainy earlier said that payment to Gazprom for natural gas imports in July 2012 came to USD 930 million. Therefore, OstChem which is controlled by Ukrainian businessman Mr Dmytro Firtash imported around USD 280 million worth in Russian gas in July.

According to the service, Ukraine only imported Russian gas in January to July. For January to July 2011, Ukraine imported 30.7239 billion cubic meter of natural gas worth USD 8.6 billion including 28.711 billion cubic meter of Russian gas worth USD 8.016 billion.

The major decrease in imports this year was the result of Naftogaz Ukrainy's purchase of large volumes of gas at the start of 2011 in order to implement a decision of the Stockholm Arbitrage Court to return 12.1 billion cubic meter of gas to RosUkrEnergo. In addition, the decrease in gas imports was driven by Ukraine's efforts to reduce purchases because of the high price for Russian gas.

Source - Iterfax.com

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