Gazprom Sees Natural Gas Prices At New Heights By '12

Gazprom Sees Natural Gas Prices At New Heights By 12
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Δευ, 24 Νοεμβρίου 2008 - 20:15
While Germany can expect lower natural gas prices in 2009, prices will reach record heights again before 2012, OAO Gazprom's (GAZP.RS) head Alexej Miller says in Monday's Handelsblatt.
While Germany can expect lower natural gas prices in 2009, prices will reach record heights again before 2012, OAO Gazprom's (GAZP.RS) head Alexej Miller says in Monday's Handelsblatt.

The reason, he says, is that energy companies have invested too little in exploration.

Gazprom won't be much affected by lower prices in Europe next year since it enjoys stable demand, and its biggest market -Russia- will see natural gas prices rise an average 25% in 2009, Miller says.

"For 2008 we still expect record results for income and net profit: about $100 billion and $35 billion respectively," the paper quotes Miller as saying.

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