Ukraine may have to pay $500 per 1,000 cubic meters of Russian gas in the fourth quarter compared to $264.30 in the first quarter, head of Russian gas monopoly Gazprom Alexei Miller said on Monday.
"Consumers are worried about the price for gas in the fourth quarter of 2011 because if you put the oil products price, including on forward contracts, in the formula, we can say with a high degree of certainty that the price for gas on long-term contracts may reach $500 per 1,000 cubic meters at the end of 2011," Miller told journalists when asked about upcoming talks between Russia and Ukraine.
Ukrainian Prime Minister Mykola Azarov said earlier on Monday that he planned to seek lower prices for Russian gas or higher transit fees on it when he meets with his Russian counterpart Vladimir Putin on Tuesday.
Ukraine wants to revise a 2009 gas supply contract signed by previous Prime Minister Yulia Tymoshenko, claiming the gas pricing formula which linked the price for gas with the international price for oil was unfair, and forced Kiev to overpay since oil prices have risen significantly.
Ukraine is paying $295.60 per 1,000 cubic meters of Russian gas in the second quarter and expects to pay $350 in the third quarter.
SOCHI, Russia, June 6 (RIA Novosti)
