02:06 GMT +318 October 2019
Listen Live
    Work at the block separation unit for the gas distribution station. Construction of the pipeline from GDS Vladivostok on Russian island is part of preparations for the 2012 APEC summit in Vladivostok

    Russia’s Gazprom, Germany’s E.ON Agree to Adjust Price on Gas Supplies

    © Sputnik / Vitaliy Ankov
    Get short URL
    0 32

    Russian energy giant Gazprom and the German company E.ON reached an agreement on adjusting prices under their long-term contracts for the supply of Russian gas, according to a statement published by the Dusseldorf-based company on Tuesday.

    MOSCOW, March 29 (Sputnik) — The statement reads:

    "Negotiations between Uniper, the fully-owned E.ON subsidiary, and Gazprom on price adjustments to long-term gas supply contracts have led to an agreement."

    The German energy company added that the deal resolved the pending arbitration proceedings between the companies, which were first launched in April 2014.

    The agreement will allow E.ON to earn $425 million in the first quarter of 2016, as well as additional $895 million until the year end, according to the company’s estimates.

    gas prices, gas, E.ON, Gazprom, Germany, Russia
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik