EurActiv: Russian Gas Price Seen Falling by Up to 35% in Europe

The price of Russian gas for most of the European Union and Turkey could fall by up to 35% this year, plunging oil prices, Russia's Vedomosti newspaper reported on Friday (13 February,) citing forecasts by the country's Economy Ministry.

The newspaper said the average price of gas supplied by Russian state-owned company Gazprom could be around $222 per 1,000 cubic metres for countries the company labels part of its "far abroad".

Gazprom defines "far abroad" countries as the European Union, minus former Soviet republics Lithuania, Latvia and Estonia, but including Turkey.

Sales to Europe account for more than half of the revenues of Gazprom, which generates around 8 percent of Russia's gross domestic product.

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