international magazine
12 / 2007

Gazprom moves from strength to strength
The natural gas price is set to grow with energy security in mind

On the eve of Russian parliamentary election natural gas giant Gazprom received a royal gift, becoming a potential owner of about 11 trillion m3 of gas. According to the government decision licenses for 31 fields from a special undistributed fund have been transferred to the federal gas reserve for which the monopoly has priority rights. This could result in Gazprom's reserves increasing as much as 20%. Besides this, the Federal Tariffs Service (FTS) announced Gazprom has the right to raise domestic prices in Russia in 2008 by 25%.