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Russia to reject gas price control within 1-2 years — antimonopoly service

October 16, 2015, 11:40 UTC+3 MOSCOW
Currently, gas prices are formed by the state with account of social significance of gas as commodity
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© TASS/Vladimir Smirnov

MOSCOW, October 16. /TASS/. The volume of gas for exchange trading expected to be reached by the end of 2016, will make it possible to get indicative gas price for local market, which will allow the state to reject gas price control within 1-2 years, Deputy Head of the Russian Federal Antimonopoly Service /FAS/ Anatoly Golomolzin said on Friday.

"We may reject gas price control within a year or two," he said.

In order to do this the so-called commercial infrastructure should be created, he said, which implies development of stock-exchange and off-exchange transactions.

The volume of gas for exchange trading may reach 30-35 bln cubic meters within 1 year, Golomolzin said. "Gas volumes are on the rise. We add 100 mln cubic meters each time, and have now reached 1.3 bln cubic meters," Golomolzin said, adding that "by the end of 2016 trade volume may reach 30-35 bln cubic meters."

Deputy Head also said the plan is to start daily gas exchange trade in the nearest future.

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