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Ukraine hopes to save $6 bln annually with new gas price - Azarov

Ukrainian Prime Minister Mykola Azarov expects that, after Ukraine and Russia agree on reducing the price for gas Ukraine buys from Russia, his country will save $500 million a month.
By Staff reporter 16 November 2011 Europe & Russia / Supply & Demand 0 1867

Ukrainian Prime Minister Mykola Azarov expects that, after Ukraine and Russia agree on reducing the price for gas Ukraine buys from Russia, his country will save $500 million a month.

"We are holding intensive negotiations with Russia. As soon as we agree on an acceptable price for gas, we will immediately receive additionally, roughly speaking, $500 million a month, which is $6 billion a year," Azarov said on Ukrainian television on Tuesday.

This is one of the ways to stabilise Ukraine's balance of payments, he said.

The Ukrainian...