Gazprom Deputy CEO Alexander Medvedev said that Gazprom's production costs are one of the industry's lowest at around $20 per 1000 cubic meters.
He also said that the gas prices in the second quarter would be the lowest this year but would rise from the third quarter.
Last week, he said the company sees Russian gas prices in Europe this year averaging $167 to $171 per 1000 cubic meters. That is down from about $240 in 2015, reflecting lower crude prices hitting indexed gas pricing, CNBC reminds.
