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Gas prices to fall rapidly after Gazprom creating selling point to European companies on Ukraine-Russia border – Naftogaz chief

KYIV. Sept 15 (Interfax-Ukraine) – Prices for natural gas in Europe will quickly drop after the establishment of a point of sale of gas to European companies on the Ukraine-Russia border by Gazprom, CEO of NJSC Naftogaz Ukrainy Yuriy Vitrenko has said.

"We explained to our European partners that the situation with a gas shortage in Europe and these record high prices can be resolved very quickly if we explain to Gazprom so that it at least tries to show that it is ready to work according to the rules by unblocking access to the Ukrainian GTS for those European companies that want to receive gas at the Ukraine-Russia border," he told reporters in Kyiv on Wednesday.

"Additional volumes can go to Europe right now. To do this, it is necessary to create a point of sale on the Gazprom Export platform, for example, at the gas metering station in Sudzha on the Ukraine-Russia border, and the day after tomorrow, additional volumes can be sold at this point so that they go to Europe," Vitrenko said.

According to him, this will solve the shortage problem, immediately reduce prices, and "then there will be less reason to say that Gazprom is using gas as a geopolitical weapon."

The spot price of gas in Europe on Wednesday came close to the historic high – EUR 76 per MWh, or $969 per 1,000 cubic meters. At the same time, the gas price in euros per MWh has already surpassed this record high.