October 12, 2008

Ukraine gas consumption in 2007 down by 5.5% YoY

According to the Ministry of Fuel & Energy of Ukraine, the consumption of natural gas in 2007 down by 5.5% YoY to 69.8 billion cubic meters. The volume of gas consumed by industry was 34.2 billion cubic meters, by individuals 16.5 billion cubic meters and by utilities 8.9 billion cubic meters.

The Ministry of Fuel & Energy said taking in consideration the continuously increasing prices for natural gas, we welcome this decrease in gas consumption. We expect that Ukraine will have to pay the same price for natural gas as other Central European or Baltic states within two years.

Sourced from Millennium Capital