Gas prices regulations approved by the government

The Russian government has approved the main principles of setting natural gas prices and their regulation by the state. The principles also apply to fees for transportation of gas within Russia. Gas companies must keep separate records of costs of natural gas production, its transportation through pipelines, storage of natural gas, and sales (supplies) of natural gas. In accordance with the government instructions, the state regulates wholesale gas prices and fees for transportation of gas through pipelines, RBC reports. Retail prices of gas supplied to individual consumers and housing cooperatives are also subject to state regulation. It is specified in the government instructions that the Federal Energy Commission of Russia and regional energy commissions are responsible for regulation of prices of natural gas.