EU gas price to rise 50% if Gazprom stops supplies – Russian minister

April 4, 2014

European gas prices will rise 50% if the E.U. opts not to buy gas from Russia, Energy Minister Alexander Novak said late on April 3, Prime reported on April 4.

“Abandonment of natural gas supplies via pipeline transport and the construction of regasification terminals and liquefied natural gas (LNG) deliveries will result in an increase of the European gas price from the current U.S.$380 per 1,000 cubic meters to at least U.S. $550,” he told Rossiya-24 television channel in an interview. “The question arises: is the European economy ready to supply and consume gas at this price?”

Copyright: Prime, 2014