Gazprom exec says natural gas demand to strengthen by 2012

27th August 2010, Comments 0 comments

Russian gas group Gazprom is expecting demand for natural gas to reach pre-crisis levels by 2012.

"Not later than 2012, we expect demand to be restored to the pre-crisis level," the head of Gazprom Export, Alexander Medvedev, said in a statement released late Thursday by a representative for the Russian gas group.

"Based on the development of the oil price in the last few months, we can expect prices to continue rising step by step," he added.

The statement was issued in response to an interview with Medvedev published Wednesday that misquoted him as saying that prices would double from their current levels.

The newspaper has since published a full transcript of the interview to show that Medvedev was speaking about demand and not prices.

© 2010 AFP

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