Support The Moscow Times!

Gas Price Gap Narrowing

Gazprom said it may find a solution to its dispute with German customers seeking to lower fuel prices as the gap between its long-term contracts and European forwards narrow.

Some of Gazprom's contracts are at about $500 per 1,000 cubic meters while forward prices have climbed to more than $400, deputy chief executive Alexander Medvedev said Tuesday in Lubmin, Germany. "This fact is a good basis to find a solution with our German friends," Medvedev said.

Gazprom has forecast its gas price under long-term contracts in Europe to average $400 per 1,000 cubic meters this year, compared with $306 last year.

(Bloomberg)

Read more

The need for honest and objective information on Russia is more relevant now than ever before!

To keep our newsroom in Moscow running, we need your support.