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Gazprom believes gas prices will double

Gas pipelines (gazprom.ru)

Aleksandr Medvedev, the Deputy CEO of Gazprom, believes world gas prices will reach pre-crisis levels in the course of 2011.

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Medvedev told German media that he expects gas prices to double by year 2012 and thus reach pre-crisis levels. He also said that Gazprom intends to retake parts of its lost European market shares. The company expects to boost its share of the market to 30 percent, he underlined, Oilru.com reports. A number of German gas supply companies are reported to already this fall increase prices by 20 percent.