28 March 2024
Gazprom must cut costs, look to LNG – Putin
Publication date: 26 March 2012
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Russian Prime Minister and President-elect Vladimir Putin said on Friday that Gazprom cannot count on gas tariff increases to help the company absorb rises in Russia’s mineral extraction tax. Instead, Gazprom must “look to cost cuts, not to tariff increases, for breathing room”, Putin said, according to Reuters. Putin added that Russia and Gazprom must gain a significant share of the global LNG market, expanding beyond its pipeline-focused gas export business.