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ST. PETERSBURG, May 23 /ITAR-TASS/. Gas price under Gazprom’s contract with China is close to the European one, Russian Minister of Energy Alexander Novak told Itar-Tass on Friday.
The minister noted that the price was calculated based on a formula taking into account the oil product basket, hence it could change in a certain range.
On May 21, 2014, Russia’s gas giant Gazprom signed a 30-year contract on gas supplies to China worth 400 billion U.S. dollars.
In 2013, an average gas price for Europe was in a range from 370 to 380 U.S dollars per 1,000 cubic metres.