Gas discount for Ukraine for 3rd quarter will most likely be less than 30% of price - Novak

The gas discount for Ukraine for the 3rd quarter will most likely be less than 30 percent of the price, Russian Energy Minister Alexander Novak said in an interview with Rossiya 24.

The gas discount for Ukraine for the 3rd quarter will most likely be less than 30 percent of the price, Russian Energy Minister Alexander Novak said in an interview with Rossiya 24.

"There is a formula now according to which the discount is provided. According to it, the discount is $100 is the price under the contract is over $333 per 1,000 cubic meters. The discount considered for the third quarter will most likely be less than 30 percent," he said.

"It's not a gift, it's regard for the interests of the state, budget revenues, the market situation and the interests of Gazprom," the minister said.

Gazprom earlier said the estimated price of gas for Naftogaz Ukraine without a discount due to the customs duty is $287.15 for 1,000 cubic meters for the third quarter of 2015 and $262.5 for 1,000 cubic meters for the fourth quarter of 2015.

In the second quarter, the price is $247.2 with the discount due to the Russian export duty.

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