Novak: gas price in 2022 may remain at high levels

The cost of gas in 2022 may remain at high levels, Russian Deputy Prime Minister Alexander Novak told Rossiya-24 TV channel in an interview on Friday.

"The balance of supply and demand is such that the price for gas is quite high. I think that next year it will remain high," Novak said.

Novak added that Russia has always been in favor of long-term gas contracts. "When import in Europe is about 250-300 bln cubic meters of gas, then you need to understand where it will come from and be able to rely on that supply, first and foremost on a long-term contract," he said.