Gazprom and RWE Agree to New Gas Supply Terms

Gazprom Export, a unit of Russia's top natural gas producer Gazprom, and German power utility RWE have reached agreement on the terms for a long-term gas supply contract, both sides said on Tuesday.

 

"Gazprom and RWE have reached agreements on the main commercial terms," a Gazprom Export official told Reuters.

 

RWE, already a big buyer of Russian gas, has been trying to renegotiate the terms of a long-term contract with Gazprom.

 

A RWE spokeswoman said that following the agreement potential disputes arising from a price review which could have been initiated in early summer had been avoided.

 

Neither Gazprom Export nor RWE would comment on the terms agreed.


(Reporting by Denis Pinchuk and Oksana Kobzeva; Writing by Maria Kiselyova and Alexander Winning; Editing by Greg Mahlich)