Gazprom to reduce gas prices for Europe by 10%

Gazprom, the Russian state gas holding, has reduced prices for European consumers by 10%, Gazeta.ru reports.

Alexander Medvedev, Deputy CEO of the company, said that concessions were made after negotiations with GDF Suez (France), Wingas (Germany), SPP (Slovakia) and Botas (Turkey).

Gazprom issued a quarterly report last week, stating that the holding continues reconsidering contracts with European consumers. Commercial consultations were planned with RWE Transgas, Shell Energy Europe, E.On Ruhrgas, Eni, GWH Gashandel, Centrex, EGL and GasTerra, Dong, PGNiG. EGL (Italy, GasTerra (Holland) and Dong (Denmark) joined the negotiation process in 2011.

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