Monday, August 30, 2010

E.On Asks Gazprom for Lower Gas Prices

German gas company E. On is seeking further price reductions from Gazprom after negotiating lower prices in the spring. E. On is requesting lower prices as a result of client demand even though it secured an agreement with Gazprom to purchase gas at spot prices until the end of 2012. Gazprom is facing the lowest gas output in its history with European exports falling by 11.5 percent. Gazprom’s biggest competitor, Norway’s Statoil, agreed to sell up to 30 percent of its gas at spot prices and has seen increasing sales. (Moscow Times 23 August 2010)

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