Gazprom considers a 14 percent hike of the average gas price exported to Europe

The Russian gas giant producer Gazprom might increase by 14 percent this year the average price of natural gas exported to Europe and anticipates sales hike in the region due to better economic conditions.
Gazprom considers that gas exports for Europe will increase from 140 billion cubic meters in 2010 to 152 billion cubic meters this year, announces Reuters.

However, the group intends to increase from USD 308 a thousand cubic meters of gas to USD 352 the natural gas average price for European consumers.

The gas prices for long term contracts concluded by Gazprom with European customers depend on the oil price fluctuations, which recently rose to USD 100 per barrel, the last two years maximum.

Gas exports are the main source of income for the Russian group, which provides a quarter of the European countries fuel demand.

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