What is Gazprom’s view about how that’s going to develop in the domestic market?
Medvedev: Our WTO accession protocol with the EU calls for escalating the local price. This fits our energy strategy because it will force Russia to adopt energy-saving technologies and put Gazprom in the black in the local market. We should reach a $60 price by 2010 under the protocol. But Russian gas will never sell at European prices because we are a produce and our industry enjoys this comparative advantage of the Russian economy. Summary prepared by Matthew Gibson, Junior Fellow with the Russian and Eurasian Program at the Carnegie Endowment for International Peace.
