Support The Moscow Times!

Gazprom Exports Rise 30%

Gazprom said it increased exports by 30 percent in the first quarter of 2011, including a 12 percent rise in its European market, where prices turned in its favor.

"In the past year, spot prices in Europe have caught up with and even exceeded Gazprom contract prices," Gazprom quoted chief executive Alexei Miller as saying in a statement Monday. "If in January-March 2010 the average export contract price for Gazprom gas was about $293 [per 1,000 cubic meters] and exceeded spot prices by 50 percent, the difference between average spot and contract prices in the first three months of 2011 fell to 8 percent."

Gazprom's average European export price in the first quarter was $346 per 1,000 cubic meters, it said, noting that spot prices hit $400 and more in the quarter.

(Reuters)

… we have a small favor to ask. As you may have heard, The Moscow Times, an independent news source for over 30 years, has been unjustly branded as a "foreign agent" by the Russian government. This blatant attempt to silence our voice is a direct assault on the integrity of journalism and the values we hold dear.

We, the journalists of The Moscow Times, refuse to be silenced. Our commitment to providing accurate and unbiased reporting on Russia remains unshaken. But we need your help to continue our critical mission.

Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and you can be confident that you're making a significant impact every month by supporting open, independent journalism. Thank you.

Once
Monthly
Annual
Continue
paiment methods
Not ready to support today?
Remind me later.

Read more