Gref reports deficit in natural gas supplies to Russian domestic market

Economic Development and Trade Minister of the Russian Federation German Gref pointed to the appearance of deficit in natural gas supplies to Russia's domestic market. He reported in an interview with journalists after a government session that the situation with Russia's fuel balance was "rather complicated." "Since the majority of energy facilities are working on gas now, we will inevitably be forced to raise gas prices, as Gazprom is reducing its gas production volumes and the volume of gas exports is fixed and cannot be changed," the Minister stressed.

According to him, the government is supposed make a decision on creating the basis of the gas market in our country. Anyway, gas prices will be growing. Gazprom will be audited in the near future and a final decision made on the dynamics of gas tariffs in 2003.

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