Gazprom cuts output forecast to 570 billion cubic meters to 580 billion cubic meters by 2015

RIA Novosti citing Mr Valery Golubev Deputy Chairman of the Management Committee as saying that Russia gas giant Gazprom will cut prices for Estonia, Latvia in 2011 by 15% if gas deliveries there are increased to pre-crisis levels.

He said that "Gas prices for Latvia will be lowered because the country has committed itself to reviving consumption to the level of 2007. This issue is solved. We have made the same decision for Estonia, adding that prices for Lithuania and Belarus in 2011 would not change."

He added that "As for Lithuania a decision to cut prices has not been made yet. We see no reason to cut prices for Lithuania, adding that a four-year gas contract with Belarus, which expires in 2011, provided for a step-by-step price growth."

(Sourced from RIA Novosti)


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