The following Reuters news is interesting.
French bank Societe Generale claims : "European gas demand will remain below 2008 levels until 2017 and the weak outlook could force suppliers like Russia's Gazprom and Norway's Statoil to reduce their gas prices"....
It also adds : "
SocGen said in a research note that it expected year-on-year demand for gas to grow by 2.5 percent in 2012, compared with a record 9.5 percent drop in 2011."
But the interesting thing is here:
"We believe Statoil could end up further reducing the assumed 75 percent oil-indexation for continental buyers in order to boost medium-term demand for gas (as a fuel for power generation). We suspect that after tough negotiations, it could be reduced to 55 percent from October 2012."
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