Financial Times FT.com

Gazprom holds the keys to the kingdom

By Isabel Gorst

Published: December 5 2006 02:00 | Last updated: December 5 2006 02:00

Russia's natural gas market is the biggest in the world, after the US, and growing.

But Gazprom, the state gas monopoly, says the obligation to supply gas at cheap, regulated prices to domestic consumers is a millstone round its neck, choking off income that could be used to finance new gas field developments and boost its flat production.

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