Russian gas price for Ukraine will drop to $350 per 1,000 cubic meters in Q1 2015

A slump in crude oil prices on the global market will lower the price of Russian natural gas for Ukraine to $350 per 1,000 cubic meters in the first quarter of 2015 instead of the $385 and then $365 expected earlier, Prime Minister Arseniy Yatsenyuk has said.

A slump in crude oil prices on the global market will lower the price of Russian natural gas for Ukraine to $350 per 1,000 cubic meters in the first quarter of 2015 instead of the $385 and then $365 expected earlier, Prime Minister Arseniy Yatsenyuk has said.

"Our path towards energy diversification and reduction of our dependency on Russia has been successful and will continue. We will increase our volumes of reverse gas supplies. We will build new gas pipelines," the prime minister told the government on Wednesday.

He recalled that Naftogaz Ukrainy signed gas purchase contracts with Norway's Statoil, German and French companies, thus saving $0.5 billion this year.

Read more: Russia looks for ways to influence oil prices as hole in budget looms

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