I’d like to point out two small inaccuracies in a very good survey by David Wood in “Part 1: Russia seeks global influence by exploiting energy geopolitics” (OGJ, Feb. 12, 2007, p. 20). First, in the dark days of 1998 the European price of Russian gas was less than one quarter of what it is today. Second, according to financial reports of Gazprom, gas sales to Russian consumers were profitable in 2004 and 2005. Moreover, domestic sales have a higher profit rate than the one of Gazprom Marketing & Trading Ltd. of the UK.
Mikhail Korchemkin
East European Gas Analysis
Malvern, Pa.
