Big Price Drop of Russian gas possible in Europe

gasThe price of natural gas that Russian Gazprom is supplying Europe might be reduced in the first quarter of this year on 184 USD per 1,000 cubic meters from the price of 284 USD in the same period last year, said Viktor Zubkov, the President of Management Board of this company.

Zubkov said that Gazprom is planning to deliver 160 billion cubic meters of gas to Europe in 2016, as reported by TASS.

“In the first quarter of 2015 the price amounted to 284 USD, and according to the preliminary estimates for the first quarter of this year, new price will be amounting to 184 USD, which means that we will lose 100 USD,” according to the official from Gazprom.

He added that the company delivered 467.5 billion cubic meters of gas in the last three years in Europe, which is a third of the total quantities used in Europe.


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