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Gazprom's EU partners anxious for price cuts
Jan 14th 2013, 10:47

Associated Press ANAPA, Russia — Russian energy giant Gazprom is spending billions to expand its already massive footprint in Europe. But it will have to tread carefully at a time when global natural gas supplies are surging and prices are falling, giving European utilities and businesses more leverage in negotiating supply contracts. At a lavish ceremony in December to mark the start of construction of a new pipeline to Europe, Gazprom put on a show of its industrial might to match the project's (EURO)1 billion ($20.92 billion) price tag. On the Black Sea coast, 600 miles south of Moscow, the company built a eight massive steel-framed marquees to house Russia's President Vladimir...

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