During his interview to the German Handelsblatt magazine President of the Gazprom Alexey Miller stated that during the upcoming three years the prices of natural gas and oil will raise tremendously. He mentioned that the gas price is formed based on the oil price. According to him in 2009 the gas price will fall for a short term, which will again be stipulated by international prices of oil. However based on the market demand and the current opportunities of gas and oil exportation Miller assured that by 2012 both gas and oil prices will increase tremendously. “The era of cheap gas and oil prices is over,” stated the President of Gazprom.
