Gazprom says current gas prices could destabilise European economy

Current European spot gas prices could destabilise the regional economy, the head of Russian state gas company Gazprom's export arm told a forum on Thursday.

Elena Burmistrova said that cooperation between producers and consumers can balance the market, adding that Gazprom was fulfilling its obligations under existing long-term contracts.

European gas prices eased after Russian President Vladimir Putin said on Wednesday that Moscow did not need turmoil on the gas market, adding that Russia should sell more gas on its St Petersburg exchange, which offers gas for European spot buyers.

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