Russian state gas firm OAO Gazprom (GAZP.RS) said Thursday it expects tariffs for the transit of natural gas through Ukraine will rise by 50% to 60% next year.
Depending on the price of oil, the tariff for shipping 1,000 cubic meters of gas 100 kilometers through Ukraine's pipeline system will likely grow to between $2.56 and $2.7, up from the current price of $1.7, Gazprom said.
The tariff is calculated using a formula in a contract signed with Ukrainian state gas firm Naftogaz in January.
Analysts have said a large increase in transportation tariffs could hurt Gazprom's earnings next year.
Gazprom supplies around a quarter of Europe's gas needs, the bulk of which is shipped through Ukraine.
Russia and Ukraine have repeatedly been at odds over the pricing of supplies and transit shipments.