KIEV, April 3 – Ukrgazvydobuvannia, the largest gas extracting company in Ukraine, has asked the National Commission for Energy Regulation (NCER) to increase the tariff on sale of its gas from UAH 419 per 1,000 cubic meters to UAH 880-890 per 1,000 cubic meters.

"The price of gas should be increased to at least its production cost [UAH 880-890 per 1,000 cubic meters according to the company's calculations]. If the tariff is not revised, such company as Ukrgazvydobuvannia will be simply closed," Board Chairman Serhiy Kostiuk said at a press conference at Interfax-Ukraine on Wednesday, April 2.

In turn, Deputy Board Chairman Vadym Shlenchak added that the company's tariff does not foresee funds for capital investment, while only to retain gas extraction at the current level around UAH 3.5 billion should be invested every year.