The report by the Avesta Investment Group said the price of gas exports will be US$130 per 1,000 cubic metres in the first half of 2008, rising to US$150 in the second half.

Russian gas monopoly Gazprom declined to comment on the report, Gazeta said.

Russia depends on imports of natural gas from the Central Asian states of Turkmenistan and Uzbekistan for domestic needs and to fulfil gas export agreements at higher prices to Ukraine and western Europe.

In 2007, Uzbekistan sold Gazprom nine billion cubic metres of gas at US$100 per 1,000 cubic metres. Turkmenistan has also increased the price of its gas exports to Russia for 2008 up to US$150.