Gazprom: Ukraine Gas Prices Will Not Change

Posted June 6th, 2011 at 1:30 pm (UTC-5)
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Russia's gas monopoly Gazprom says it will not change the price it charges neighboring Ukraine.

Gazprom chief executive Alexei Miller said Monday the company will not invent any kind of new pricing formula for anyone.

Ukraine has been trying to renegotiate the price it pays for Russian gas. It also wants to charge Moscow a higher fee for gas that Russia sends through Ukraine to the European Union.

Russia pumps the majority of its gas exports to Europe through Ukraine. But Moscow has suspended the deliveries several times in recent years during pricing disputes with Kyiv. The disputes have interrupted Russian gas supplies to many European countries during cold winter months.

Gazprom is the world's largest natural gas extractor and Russia's largest company. The company has a monopoly over Russia's pipelines and fuel exports.