Wednesday, November 22, 2006

Russia to Raise NatGas Prices

Wall Street Journal (subscription):
Russia will roughly triple low domestic prices for natural gas over the next five years in an effort to cool surging local demand for the fuel and ensure adequate supplies for increasing export commitments, a top Kremlin official said.

The move by the world's largest gas producer should help attract much-needed investment to develop new fields amid steadily rising demand for the clean-burning fuel.