Source Pravda.Ru

Gazprom comments on its gas sales

Sales of gas to Russian consumers was unprofitable in 2002; the Gazprom gas holding was covering these losses via internal corporate subsidizing of gas supplies to the interior market at the expense of revenues from gas exports. This year, the Russian gas giant is expecting a decline in these revenues against the 2001 level, which is triggered by a drop in export gas prices on the European market from $120 per 1,000 cubic meters to $97.5 per 1,000 cubic meters, Gazprom's press service reported.

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