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RUSSIA: DOMESTIC GAS COMPETITION EXPECTED IN 2005.
IPR Strategic Business Information Database, May, 2002
Russian Prime Minister Mikhail Kasyanov predicted that in three years rising gas prices will make it possible for independent gas producers to compete with gas giant Gazprom. In an interview with Reuters, Kasyanov said, "[It will take us] a maximum three years, but if we can do it quickly, we will do it." While domestic oil and petroleum-products markets are fully liberalized in Russia, the government regulates prices in other energy sectors, such as gas and electricity.
Gazprom, in which the state is a major shareholder, wants the government to increase prices, saying it is losing $1.5 billion a year on domestic sales. Local prices are one-tenth of export prices. The government has approved a price hike of 20 percent this year. Russian oil firms have said they...
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