Gazprom has given warning that European consumers should expect stiff increases in natural gas prices as the soaring cost of oil feeds through into contracts for the sale of Russian gas into Europe. The cost of wholesale natural gas will rise by between 15 and 20 per cent next year, Alexander Medvedev, the deputy chief executive of Gazprom, said. He added that even greater increases could follow if the European Commission pushes through measures to break up Europe's gas grid. The Russian gas giant is at loggerheads with the Commission over its plans to strip European...
photo: Gazprom.ru
