Russia set to raise gas prices for Lithuania

  • 2006-10-11
  • By TBT staff
Russia's gas giant Gazprom is expected to decide within three weeks on a natural gas price for Lithuania starting next year. The price for 2008 will almost certainly increase and will reach the price that countries pay in Western European. "Within two to three weeks, Gazprom will make a decision on the price of gas for Lithuania. It is hard to say at this moment what it will be," Gazprom's deputy chairman, Alexander Ryazanov, said adding that, "2007 will be the last transitional year" for Gazprom to bring the price of gas supplied to Lithuania up to western European price levels. The Gazprom official said that the average price for gas supplied to Germany is currently around $280 (223 euros) per 1,000 cubic meters, while Lithuania currently pays $147-150. He said that, given lower shipment costs, "the price for Lithuania will in any case be lower than for Germany."