December 17, 2007 / 5:48 PM / 11 years ago

Gazprom sees gas prices in Germany up in 2008 -paper

FRANKFURT, Dec 17 (Reuters) - Gazprom (GAZP.MM), the world’s biggest natural gas company, expects gas prices in Germany to rise to around $350 next year, Deputy Chief Executive Alexander Medvedev said in a German newspaper interview.

“Based on forecasts for oil products prices that form the basis for our price calculations, it will be around $350 per 1,000 cubic metres,” he was quoted as saying by Die Welt.

That compares with around $300 of late and an average of $250 for 2007.

Gazprom provides around a quarter of Europe’s gas needs and 40 percent in Germany.

Medvedev denied speculation that Gazprom was in talks to acquire industrial interests in Germany.

“We are not at present negotiating acquisitions in Germany, but of course we would not rule this out should the economic conditions be right,” he said. (Reporting by Michael Shields, editing by Will Waterman)

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