NJSC Naftogaz of Ukraine has fully and timely settled with OJSC Gazprom for natural gas consumed in September, having paid about USD 725 million, Fuel and Energy Minister Yuriy Boyko informed.

According to a contract between Naftogaz and Gazprom on gas supply in 2009-2019, the Ukrainian party undertakes to transfer the funds for consumed gas no later than the seventh day of the month following the supply. In case of violation of this term the Russian party reserves a right for itself to demand a transfer to a 100 percent advance payment system.

A price for natural gas for the Ukrainian company in Q3 makes up about USD 248.