KIEV, Nov. 14 - Administrative limits on the price of gas extracted in Ukraine at an economically unjustified level over the last few years have created serious problems for gas extraction companies and have prevented an increase in gas extraction, the state-owned Naftogaz Ukrayiny said.

Artificially low prices for Ukrainian natural gas sold to households have resulted in extremely low profitability, or even losses during gas extraction, and a lack of free assets for resource base development and the implementation of production programs, reads a company announcement.