TODAY.AZ / Business

Minister says Russia to increase energy export prices for all consumers

23 May 2006 [20:40] - TODAY.AZ
Russia plans to increase the price of its energy exports "to world levels" for all consumers, Russian Economic Development and Trade Minister German Gref said Tuesday during a lecture at the Russian Academy for Foreign Trade.

"This is an inevitable process for which all (of Russia's) partners should be preparing for," he said.

According to Prime-Tass, Russia also plans to gradually increase its domestic energy resource prices to world levels, Gref said.

Domestic gas tariffs in Russia are likely to be raised by 15% in 2007, which is twice the level of inflation projected for the next year, he said.

The government regulates domestic gas prices in Russia.

Russia's natural gas monopoly Gazprom, which used to subsidize gas supplies to former Soviet countries, has recently increased its prices for Ukraine, Moldova, Armenia, Azerbaijan and Georgia.

In March Gazprom also announced plans to increase starting in 2007 the price of its gas exports to Belarus, which had been believed until recently to be exempt from Russia’s price hikes.


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