According to forecasts, prices of natural gas exported by Russia to Western Europe will average $200 a thousand cubic meters in 2016, compared with $238 a thousand cubic meters this year.
Currently, Hungary is negotiating a new long-term agreement with the Russian gas group Gazprom about large amounts of natural-gas supplies and their placement in country’s gas storage facilities. Meanwhile, the Czech Republic has started to import Russian gas from the Nord Stream-1 pipeline on the Baltic seabed via Gazela and OPAL pipelines.
The state company Polish Oil & Gas Production increased the import of Russian gas by a third into Poland in the third quarter from the year-earlier
period. Unfortunately, for lack of funds, the Ukrainian state company Neftegaz cannot buy natural gas both from Russia and European countries. As Yuri
Boiko, leader of the Opposition Bloc, put it, today the Integrated Power Grid of Ukraine needs desperately natural-gas supplies in the amount of 50 million cubic meters per day.
Readers of The Ukrainian Times know that Gazprom controls 15% of the world’s known natural-gas reserves. The Russian group is going to be passing along
gas for a long, long time. Like a coiled spring, Gazprom stocks are cheap to start with. Not having any idea of what would happen,
some Western investors think the cheap bird in their hands is a better bet than expensive birds somewhere in the future bush.
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