Ukrainian Economy Ministry recalculates actual gas sale price in March down to $1,005 per 1,000 cubic meters

KYIV. April 15 (Interfax-Ukraine) - The Ukrainian Economy Ministry has recalculated down the actual sale price for natural gas in March 2022, based on which domestic gas production rents are calculated.

The ministry said in a statement on its website that the adjusted sale price is now $1,004.65 (29,390.8 hryvni) per 1,000 cubic meters of gas, down from the earlier announced price of $1,305.72 (38,198.65 hryvni).

As reported earlier, law No. 7038-d that has taken effect since April 2022 introduces differentiated domestic gas production rents depending on the sale price. Increased rents have been set for part of the price above $400 per 1,000 cubic meters.

Under the new legislation, the gas sale price, based on which the rents are calculated, shall be determined as the arithmetic mean of the customs value of imports and quotations at the Dutch TTF gas hub. Previously, rents were calculated solely based on the customs value of imports.

Ukraine imported gas at an average price of $1,010.1 (29,550.34 hryvni) per 1,000 cubic meters in February 2022 and at $1,161.52 (32,808.28 hryvni) in January 2022.