Gas may be sold at unfixed price in Russia next year

An experiment on selling gas at unfixed prices should be carried out in Russia starting from the beginning of 2003, Deputy Chairman of Gazprom's Executive Board Alexander Ryazanov declared at a meeting of the Federation Council's commission on natural monopolies in Yamburg, Yamalo-Nenets Autonomous Area today. Some 5 percent or 16.5bn cubic meters of gas will be sold this way, he stressed. The real gas price is $30 for every 1,000 cubic meters in Russia at present and the experiment will attract additional investments in the production of this fuel, Ryazanov specified. The formation of the gas market and an increase in gas prices will promote the development of the market of energy resources. Currently some 100bn cubic meters of gas "are burnt heating the atmosphere", he added.

Ryazanov also thinks the liberalization of the market of Gazprom shares should be continued; they should be sold not only on special exchanges, but also on international exchanges.