Kommersant-Ukraina reported that the Ukrainian cabinet of ministers is currently preparing a resolution which will allow the country to restore its gas exports to Poland.

Ukraine halted gas exports to Poland January 1 2011. Under a contract between Russia's Gazprom and Ukraine Naftorgaz, Ukraine is not allowed to export Russian gas abroad. On the other hand, a decree, dating back to 2001, obliges Ukraine to sell gas recovered at home only on the domestic market.

The paper said "The cabinet is preparing an amendment to this decree which will allow the country to export up 300 million cubic meters of gas to Poland this year, and up to 3 billion cubic meters the next year."

In light of the fact that the Polish prices on gas will hit USD 290 to USD 300 for one cubic meter this spring, Naftogaz could gain up to USD 90 million.

The paper said Gazprom is concerned by these plans. We can agree a small flow of gas at the level of 100-200 million cubic meters the capacity of the Polish gas market is 14 billion cubic meters, an export volume higher than USD 1.5 cubic meters is the tenth of this market.

(Sourced from RIA Novosti)