05:14 GMT +317 February 2019
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    Gazprom’s European Partners ‘Play Unfair Game’ to Turn Profit

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    European companies made additional profits by purposely ordering more gas than Gazprom can supply and then receiving money in penalties for undelivered gas. In addition, European companies traded this gas on the spot market, creating oversupply, thus decreasing the price.

    MOSCOW (Sputnik) – The European partners of Russian energy giant Gazprom use unfair methods to make a profit from the company, the Deputy General Director of Gas Projects at Russia's National Energy Security Fund told Sputnik on Tuesday.

    On Sunday, Czech newspaper Hospodarske noviny reported that European companies had made additional profits by purposely ordering more gas than Gazprom can supply and then receiving money in penalties for undelivered gas.

    "European partners in this case played an unfair game. They ordered more gas and organized the reverse deliveries to Ukraine," Alexei Grivach said.

    He also stated that, in addition to supplying a reverse gas flow to Ukraine, European companies traded this gas on the spot market, creating oversupply, thus decreasing the price.

    Marketing director of Czech gas company Vemex Hugo Kyselka said European companies took advantage of the legal peculiarities of the contracts they have with Gazprom.

    "European companies' behavior with respect to their main gas supplier is far from ideal," Kyselka told Sputnik.

    Agreements with Gazprom allow fuel recipients to order up to 20 percent more gas than stipulated in contracts.

    The subject of Russian gas supply to Europe has been a matter of concern for the region in light of the strained relations between Moscow and Kiev, since Russian gas to the EU passes through Ukraine.

    On March 17, a Russian Energy Ministry spokesman told RIA Novosti that the ministry had agreed to a European Commission proposal to hold three-way gas talks with Ukraine on March 20.


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    gas, Gazprom, Ukraine, Russia