Modeling the dependence of gas demand from gas prices and GDP growth rates in domestic and foreign markets

The article deals with natural gas pricing in Europe and Russia. Regression models on the dependence of the demand for Russian gas in the European Union from gas export prices and GDP growth rates in the European Union (far abroad) are developed. Adequate regression models are also developed for the dependence of the domestic demand for gas from gas prices and GDP growth rates in Russia. The coefficients of gas demand elasticity of gas prices and GDP growth rates in the European Union and Russia are estimated. The relationship between inflation and GDP growth rates in Russia and gas prices is estimated.