Itar Tass: Gazprom gas prices for Europe may fall 17% by 2017
Gas prices under Gazprom’s long-term contracts with European countries may fall 17% to $320 per 1,000 cubic meters by 2017 due to gas supply diversification, including shale gas production, business daily Vedomosti reported Friday, citing a representative of Russia’s Economic Development Ministry.
The diversification of gas supplies to Europe will contribute to the gas market saturation in the mid-term and lead to a gradual decrease of gas prices relative to oil prices, the representative said.