Defense minister opens international Army Games-2017Military & Defense July 29, 14:15
Dry cargo vessel turns over in Crimea, three rescuedWorld July 29, 9:39
DPRK announces 2nd successful test of Hwasong 14 missileWorld July 29, 7:21
Trump to sign bill on anti-Russian sanctions - White HouseWorld July 29, 7:19
Rogozin demands tough measures on Romania, Moldova after disruption of visitRussian Politics & Diplomacy July 29, 5:27
Soyuz MS-05 space vehicle brings new expedition to ISSScience & Space July 29, 5:21
Defense ministry reports North Korea’s missile launch pose no threat to RussiaMilitary & Defense July 28, 21:34
Russian diplomat comments on new US sanctionsRussian Politics & Diplomacy July 28, 20:50
US new anti-Russian law poses threat to energy projects — expertBusiness & Economy July 28, 20:30
MOSCOW, July 04. /ITAR-TASS/. Russian gas giant Gazprom is ready to factor in spot gas prices into its long-term contracts, business daily Vedomosti reported on Friday citing two sources close to Gazprom.
In May, Gazprom CEO Alexei Miller signed an agreement on new price formation with Italy’s Eni. Gazprom did not disclose details, but Eni said that gas prices will be indexed to the spot market price.
Previously, Gazprom included spot prices into its contracts under the pressure from the EU and its European clients, but spot prices were used only for additional gas, taken above the minimal volume of the take-or-pay conditions. Eni was the first company to receive the whole volume of gas indexed to the spot market, a source close to Gazprom said.
“Indirect mechanisms allow to reduce the disparity between spot gas prices and the price of a long-term contract,” another source said, adding that the oil link is still in force.
A similar mechanism can be introduced in other European competitive gas markets, for instance in Poland, the source said.