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

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    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.

    Tags:
    gas prices, gas, E.ON, Gazprom, Germany, Russia
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