29 Nov 2011 10:23

Gazprom, pipe producers switch to contract with price formula

MOSCOW. Nov 29 (Interfax) - Gazprom and pipe producers have agreed on a price formula that will be used under contracts for pipe supplies, primarily large diameter pipes (LDP), Gazprom reported following negotiations between the company's top managers and pipe producer representatives.

The components of the price formula for LDP will include: price quotations on metallurgical raw materials (iron concentrate, coking coal and scrap steel), the price dynamic on sheet steel and LDP, and the index of change on the price charged by industrial goods producers in Russia.