Gazprom to Cut European Gas Prices for 2013

Reuters reported that Gazprom is expected to cut long-term contract prices to Europe to be competitive with the spot market.

As quoted in the market report:

The price of the natural gas Russia’s gas export monopoly sells to Europe on long-term contracts could fall to around $370 per 1,000 cubic metres in 2013 from over $400 this year.

To view the whole Reuters report, click here.