Hungary cuts reversed gas supply to Ukraine

From March 25, Hungary has cut its reversed gas delivery to Ukraine, says a statement by FGSZ Ltd, Hungarian gas-transporting network operator.

The supply decreased from March 25 to 3.7-4.7 mn cubic meters per day (earlier it was 6.7 mn cubic meters of gas per day). As Alexey Grivach, deputy head of the Russian Energy Security Fund said before, the gas received by Ukraine through reversed supply cost in January 2015 the money as the gas delivered directly from Russia.

In January 2015, the cost of imported gas for Ukraine was $655 mn. According to Ukrtransgaz data, Russia delivered 920 bn cubic meters of gas in January with the price of $329 per 1,000 cubic meters. Thus, the share of the Russian gas in the total import was $303 mn. According to Grivach, Ukraine spent $352 mn for the reversed gas buying 1.08 bn cubic meters.