28 April 2024
Pricewatch – Firmer euro could cut Russian gas import prices
Publication date: 08 May 2017
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The success of pro-EU centrist politician Emmanuel Macron in the French general elections has boosted the euro (EUR), which could in turn help cut the price of gas imports from Russian supplier Gazprom.
Despite growing volumes of LNG entering Europe from overseas and the roll-out of solar and wind capacity, around 30% of all gas supply still enters the continent through pipelines from Russia, on contracts that contain various amounts of indexation to crude oil, which is priced in USD.