Russian state-owned gas company Gazprom is not holding any talks on adjusting gas prices for its European consumers, a company executive has said, as the low oil price shifts pressure from rates to flexibility in long-term contracts.
That said, the low price has not ended Gazprom’s disputes with the European Commission and consumers in the EU.
An investigation is ongoing into Gazprom’s practices in various Central and Eastern European markets, and buyers are still pushing for more flexibility in contracts with take-or-pay clauses.
Belarus is an exception in that it is still pushing for a new contract price. “Minsk knows Moscow can’t bail them out when needed as Russia has its own problems. So it is playing its old game of pleasing both sides, hoping that Gazprom will come out with a nice price for the gas,” Sijbren de Jong said to Interfax Global Energy. The full interview can be read here (behind a paywall).
Photo credit: Thawt Hawthje via Foter.com / CC BY
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