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Energy Watch, December 14

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MOSCOW, December 14 (RIA Novosti)

Below is a summary of the main energy-related events in Russia, the CIS and neighboring countries on December 14, 2005

* Russian energy giant Gazprom said Russia would not supply Ukraine with natural gas at its original target price of $160 per 1,000 cubic meters, but would charge $220-230 instead

* The upper house of the Russian parliament approved legislative amendments to lift the "ring fence" from around common shares in Gazprom, which will end restrictions on foreign ownership

* Russian Finance Minister Alexei Kudrin said gasoline prices in Russia would grow at a slower rate in 2006 compared with this year, as oil prices would not exceed $50 per barrel

* Minister for Industry and Energy Viktor Khristenko said Russia intended to revise gas supply terms with Moldova, Georgia and Baltic nations

* Gazprom said it planned to sign a contract with Azerbaijan in the near future to supply Russian natural gas to the former Soviet republic at "European" price levels

* Ukrainian President Viktor Yushchenko said the country was ready to raise the tariffs on the transportation of Russian natural gas via its territory in 2006

* Russian energy monopoly Unified Energy System said tariffs on electric energy consumption in the country would grow by 7.5% in 2006 and lower than the overall inflation rate expected for that year

* Finance Minister Alexei Kudrin said it would be sensible to retain the oil cutoff price for the Stabilization Fund, which Russia established to accumulate windfall revenues from high oil prices, at $27 per barrel for the next three years

* Russia's Tariffs Service said it would grant rail fare concessions for Siberian oil being exported to China

* Russia is planning to export 56 million metric tons of oil and 55.7 cu m of gas in the first quarter of 2006, the Ministry of Industry and Energy said

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