Economy Ministry recalculates actual gas sales price in March to $1,005/1,000 cubic meters

The Ministry of Economy of Ukraine has recalculated downward the actual selling price of natural gas in March 2022, from which the rent for its production in the country is calculated.

According to a statement on the ministry's website, the revised selling price is $1,005 per 1,000 cubic meters (UAH 29,391) instead of the previously announced price of $1,306 per 1,000 cubic meters (UAH 38,199).

As reported, law No. 7038-d came into force in April 2022. It introduces a mechanism for differentiated royalty for natural gas production, depending on the price of its sale. The increased rent is set on the super-profitable part of the price over $400.

The calculation of the gas sales price, from which the royalty is calculated, is determined as the arithmetic mean of the customs value of imports and quotations at the Dutch gas hub TTF. Previously, royalty was calculated only on the basis of the customs value of imports.

In February 2022, natural gas imports to the territory of Ukraine were carried out at an average price of $1,010 (UAH 29,550), in January – $1,162 (UAH 32,808).

Source: www.en.interfax.com.ua