Gazprom to lower gas prices for Romania in Q2

Gazprom is currently the only foreign supplier for the local market. Prices of gas sold to Romania are currently reflecting last summer’s record high oil prices, up to $147 per barrel. “It is difficult to make a price prognosis for the time being, because it is hard to foresee the evolution of the oil quotation in this unstable environment,” Gazprom representatives said.

On the other hand, information printed in the Russian media indicates that, in its revenue and expense budget draft, Gazprom is considering a 30 percent reduction of gas prices for Europe, down to as much as $280 per 1,000 cubic meters. The price of gas currently imported to Romania from Gazprom costs $530 per 1,000 cubic meters.

This year, Gazprom gas deliveries for the local market could amount to some four billion cubic meters, the same as in 2007, but possibly higher compared to 2009. Gazprom covers for some 25-30 percent of the local gas consumption.