|
|
Article: Russia : Gazprom sees EU fully taking contracted gas.
- Article from:
- TendersInfo
- Article date:
- October 28, 2009
CopyrightCOPYRIGHT 2009 Al Bawaba (Middle East) Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
Byline: manish03
Russia's Gazprom (GAZP.MM: Quote, Profile, Research) expects its European customers to fully take volumes of contracted gas this year thus avoiding the need to fine them for low consumption, a company executive said on Monday.
The comment from Gazprom's export chief Alexander Medvedev follows a report in The Wall Street Journal that European customers owe Gazprom $2.5 billion under take-or-pay provisions, which fix a minimum amount of gas they must buy annually.
"The take-or-pay condition is a fundamental principle for gas markets. It is not only Gazprom's position but also the position of other exporters. So as far as the ...