Natural Gas prices rising in Ukraine

RUSSIA / FSU POLITICS - In Brief 16 Jan 2021 by Alex Teddy

Since the start of 2021 there have been demonstrations in Ukraine against the hike in natural gas prices. The market has been liberalized. In Ukraine temperatures fall to -20 C at this time of the year.President Zelensky vowed to cut gas prices by 30%. Naftogaz said it will cut prices to USD 0.25 per cubic meter.The IMF is demanding that the country liberalize the gas market. The IMF's aid will be postponed if gas prices are slashed. The Energy Minister assured the IMF that price reductions are temporary.LNG is likely to be an even greater headache for Ukraine if Russian gas starts bypassing Ukraine if Nord Stream 2 is completed.

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