Gazprom cuts Natural Gas prices in Europe by 10%

Natural Gas Feb 17, 2012 No Comments

GazpromRussia’s natural gas monopoly Gazprom reduced the gas price under long-term contracts for consumers in the EU and Turkey by 10 percent, The Financial Times reported on Friday.

This step was caused by “mounting pressure to move away from oil-linked prices,” the publication says. The newspaper quotes Deputy Chairman of the Gazprom Management Committee, head of Gazprom Export Alexander Medvedev as saying, “Our partners asked us to revise our prices and … what we did is correct the parameters of our formula, which led to a relative price reduction of 10 percent on average.”

“The new price will ensure that Russian gas remains competitive,” he added.

via Gazprom lowers gas prices on long term contracts for the EU and Turkey – BSANNA NEWS

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Rod Sherkin

Rod is a former senior executive, responsible for Purchasing, for both Pillsbury and Ball Packaging back in the 80’s and 90’s. Since then, he has continued to work in the Purchasing field as both a consultant and founder of the website Propurchaser.com.

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