28 March 2024
Gazprom ready to negotiate lower prices with European long-term contract holders
Publication date: 29 November 2010
Gas Strategies Group
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Russia’s Gazprom admitted Monday it was ready to reduce prices for its long-term European gas contract holders. The European spot market has recently offered more competitive prices compared to long-term contracts that have historically been (and still are) index-linked to oil prices – and European contract holders have utilised their “take or pay” options and reduced contracted volumes of gas to be delivered.