Drop in gas prices has made a regular customer of the Russian «Gazprom» in Europe — Verbundnetz Gas (VNG AG), one of the largest gas supplier in eastern Germany. Experts point out that lower prices are now seeking virtually all consumers, «Gazprom» in Europe, including Ukraine.
Agency, citing a source reported that the German VNG AG achieved by «Gazprom» to discount the price of gas. According to the agency last year, VNG buy Russian gas at $ 286 per thousand cubic meters, and now it has decreased, although the extent was not specified. Germany — the biggest export market of «Gazprom» in Europe (34 billion cubic meters in 2010), and despite the fact that VNG is not the largest consumer of «Gazprom» (about 6.4 billion cubic meters per year), the monopoly even tried earlier get over VNG control. VNG — in fact, a monopolist in the market in East Germany, which owns a network of pipelines stretching about 7 thousand kilometers and a capacity of 2.3 billion cubic meters of gas per year, and four underground gas storage (two more are under construction). However, the proportion of «Gazprom» in VNG today does not exceed 10.5% of shares (48% of the shares — a German utility holding company EWE).
What VNG sought from «Gazprom» to reduce gas prices, not surprisingly, says Vitaly Kryukov from «IFD-Kapital,» «because it requires absolutely all consumers,» Gazprom «in Europe.» All of them do not agree to binding gas prices to oil prices, like the analyst, but also insist on the introduction of spot contracts component, because the gas in the spot market is now worth about $ 100 cheaper than the pipeline. The main clients of «Gazprom» in Germany — E. ON Ruhrgas and Wingas — review of contracts made with «Gazprom» in the beginning of 2010, the spot component in their contracts — 16%.
Experts have repeatedly criticized the «Gazprom» for the reluctance to review contractual formulas with customers in Europe: a monopoly on the export revenues growing, but the market share in Europe is falling. Clients of «Gazprom» are either already launched arbitration procedures because of price disputes (in particular, Italy's Edison, German RWE and E. ON), or threatened to «Gazprom» such proceedings (as reported to the authorities of Ukraine, Lithuania and Poland).
Despite this, not just the «Gazprom», but Russian officials have repeatedly stated that refuse to bind the gas price to oil quotations do not want. Arbitration «Gazprom» do not frighten informally — in the monopoly is always given to understand that sometimes they last for more than a year, and the court's decision in a particular case is never a precedent for similar cases.
What would be the loss of «Gazprom» to review contracts with VNG, analysts estimate are not taken, but, according to Mr. Kryukov, «based on the volume of purchases VNG, it is unlikely that anything significant.» Another thing is that the sample is indicative and VNG says that conflicts with customers in Europe will continue, he adds.