Gazprom to Drop Prices to Estonia, Latvia, Belarus

The Russian energy giant "Gazprom" will be ready soon with the technology and economy feasibility assessment of the project to build the South Stream gas pipeline. File photo

Gazprom has announced it plans to drop prices of natural gas sold to Estonia, Latvia and Belarus with some 15%.

The reason, as quoted by the Interfax agency, is a change of the price formula and is not unconditional.

Latvia and Estonia will get cheaper gas if they raise the volume of natural gas delivered up to the levels of 2007. No price decrease is previewed or the third Baltic state Lithuania.

The 15% decrease for Belarus will be gradual through 2011 and will be effective 2012.

Over 2010, Bulgaria has been trying to negotiate lower prices with the Russian gas giant, after the latest scheduled increases. Up to now, only a marginal decrease of always increasing prices has been achieved.


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