Gazprom: we don't need price war in European gas market

Gazprom does not have the need to start a price war in the European gas market, the Deputy Head of the Board of Gazprom, Alexander Medvedev, said.

He explained that a part of Gazprom volumes are marketed with oil-peg contracts, which provide a decades-long system of price revision mechanism.

"The other part of the volumes either directly or indirectly is related to the pricing at the gas hubs," he said.

"In relation to such prices, we had not and will not apply any discounts. Therefore, there is no need for us to launch a price war," TASS cited the Deputy Head of the Board of Gazprom as saying.