Energy Industry
Industry: Email Alert RSS FeedGas Prices In '08 Will Be Higher, Gazprom Warns European Markets.
APS Review Gas Market Trends, December, 2007
The Kremlin-controlled energy giant Gazprom has warned the European Union and other markets that prices of natural gas in 2008 will be higher by up to 33% in view of rising heating oil prices. Gazprom has already agreed to pay higher prices for natural gas purchases for Turkmenistan in the coming year.
The warning has been made repeatedly since late November by Gazprom Vice-Chairman Alexander Medvedev, who heads the group's gas export division, GazExport, and is deputy head of the company's management committee. He says European clients should be prepared to pay for the Russian gas up to $400 per 1,000 CM because the price is linked by supply contracts to the cost of heating oils.
Medvedev says Gazprom would fully pass on to Ukrainian consumers any...
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