According to Gazprom’s Deputy CEO, Dmitriy Medvedev, negotiations with Ukraine on gas imports are nearing completion. He disclosed that the price of gas for Ukraine will be fixed in 2008, though an exact price has not yet been set and a new pricing formula linked to European prices will only come into effect in 2011. The draft of the sovereign budget for 2008 approved by the Cabinet yesterday set the price for gas at USD 160/m3.