Gazprom Negotiates Gas Prices with Partners

Russia sees between $40 and $50 to the barrel as a fair and balanced oil price, the RIA news agency cited Russia’s Deputy Energy Minister Pavel Sorokin as saying on Monday.

Gazprom is negotiating with a number of partners to revise the prices of gas supplied, but there is no plan to seriously revise them in long-term contracts, said Sergei Komlev, head of the contract structuring and pricing department at Gazprom Export, RIA reported.

“At the moment, we are negotiating with some of our partners in terms of price revision. But it should be borne in mind that a long-term contract reflects a long-term price. Therefore, the factors that are in effect now may cease to act in the coming years, so, of course, the current circumstances cannot serve as the basis for a serious review of current prices,” Komlev said during a phone call with investors.

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