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Gazprom concedes E.On has right to discount

Posted by John Bonar on 29.06.2012 22:12 | Published in Нефть и Газ

In the wake of a court case, where E.On, the German energy giant, sued Russian gas monopoly Gazprom for a discount on the price for its contracted gas supplies, Gazprom is preparing to sign a corrective contract, altering the terms of its delivery contract, in line with compensation deals with other European customers, Gazprom's head Alexander Medvedev said on Friday. "In concept, the decision would be the same as for other European consumers, that is offering a discount. We consider the growth in spot prices to be impractical," he said.