Gazprom Gives No Ground on Contracted Prices

OAO Gazprom Chief Executive Officer Alexei Miller said European customers must take or pay a minimum of 172 billion cubic meters of natural gas in 2015 under existing contracts.

Meeting with Prime Minister Vladimir Putin in the northern Siberian city of Novy Urengoy, Miller said Gazprom will not negotiate with European customers on terms for these volumes.

Over the past several months reports have emerged that Gazprom customers have been asking the Russian gas giant for significant price reductions from contracted prices.

Miller said that European customers have agreed to buy as much as 216 billion cubic meters under their long-term contracts in 2015.

Source: Bloomberg