The International Energy Agency, an adviser to oil and gas-consuming nations, said Russia may postpone plans to raise domestic natural gas prices, potentially stalling investment in increasing production.
“In the context of inflationary pressures, price reform could be postponed,” the IEA said yesterday in its Natural Gas Market Review 2008. Inflation in Russia reached 10 percent in the year through September 15 as food prices rose, the Moscow-based Federal Statistics Service said yesterday. Russia, the world’s biggest gas producer, is seeking to align domestic gas prices with export tariffs by 2011.
(KATHIMERINI, 09/19/2008)