Gas prices to be increased for Russian residents

Natural gas prices will be increased by 23.4 percent for residents of Russia starting on February 1, 2003. The corresponding decision was passed by the executive board of the Federal Energy Commission today. For other gas consumers, in particular industrial enterprises, natural gas prices will by raised by 20 percent starting on January 1, 2003. The decision to increase gas prices by 20 percent on average was approved by the Russian government on December 11, 2002.