The decrease in export revenues and the need to attract money for investments means, that Gazprom wants to increase the regulated price of gas in the international market , Reuters reports, based on reports by Russia’s News agency Interfax .
2023 years Gazprom experienced a nearly 7 billion dollar cash loss. This was the first time in more than twenty years when the business was profitable.The results of the past few years’ performance are still not known.
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The government owned company is seeking to increase exports of two gas to customers in Asia in to to compensate for the loss of Europe in market. But that requires money for investments. That is why the government would agree to a increase in dual prices in the middle market.
“The current level of regulated prices for deliveries does not ensure the sufficient development of financial resources, to be able to make the required capital investments to maintain and develop the gas infrastructure in the interests of Russia’s consumers , -said Gazprom Gasprom senior executive manager Alexei Sakharov at the committee of experts in the Parliament .
Raising big prices in Russia could be difficult because the country is struggling with high inflation which has forced the central bank tohighlyincreasebasedinterestrates.
AsReuterspreviouslyreported,highinterestratesarenegativelyaffectingtheRussianeconomyandthis,asreportedlyputsPutinpresidentVladimirPutinanxious,whoemphasisedthenegativeconsequencesofthereductionofinvestmentloansforthelong-termprospectsofRussia’seconomy’sgrowthinaTVannouncementon Wednesday.
