April prices for Russian gas dropped to lowest level
For the first time Gazprom's contract prices were lower than gas futures in London
April prices for gas from Russia dropped to the lowest level since September 2004, according to Finanz.ru.
For the first time Gazprom's contract prices were lower than gas futures in London.
In March, one thousand cubic meters of Gazprom's gas at the border with Germany was worth $ 147.2, is 14.6% less than in February and 56% - from a year earlier.
Falling gas prices associated with falling in oil prices, and the Gazprom contracts with European consumers which with a lag of 6-9 months are tied to oil prices.
Volume of the Russian companies’ supplies to Europe will remain unchanged - about 160 billion cubic meters. However, with stable volumes and the falling price of export their earnings will decline.
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