Gazprom says spot gas price share in EU prices grows

MOSCOW, Oct 15 (PRIME) -- The spot price component and its derivatives in the formula of gas pricing for European consumers has increased to over 7%, Mikhail Malgin, deputy director of Russian gas giant Gazprom’s export department, said in a conference call Wednesday.

“There is a hybrid price base in the contract, which also includes spot prices, and it currently stands at over 7%,” Malgin said.

The company said it had adjusted several contracts with European consumers, including Italy’s Eni.

An average gas price for Europe amounted to U.S. $358 per 1,000 cubic meters in April-June, while in January-March it stood at $372, according to Gazprom’s documents.

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