Russia's gas giant predicts higher export price to Europe

Russian gas giant OAO Gazprom has predicted that its average export price to western Europe will climb by 2 to 4 percent in 2006, a report of the Interfax news agency said.

Vladimir Merkulov, departmental head of the firm's export arm, was quoted by Interfax as telling a conference call that although a decline in gas prices is possible in the second half of 2006, the company expects to see a slight rise in prices of oil products for the whole year.

Merkulov said the average gas export price in 2005 would be around 185-190 US dollars per 1,000 cubic meters.

Source: Xinhua