Europeans Set to Buy Less Gas from Russia

28 September 2009 (Last Updated September 28th, 2009 18:30)

Consumers in Germany, Italy and Turkey plan to take up to $2.8bn less gas from Russia's largest gas company Gazprom than expected this year, according to Russian sources. The first company due to settle on a take-or-pay basis is Italy's Eni, followed by Turkish company BOTAS, German fir

Consumers in Germany, Italy and Turkey plan to take up to $2.8bn less gas from Russia's largest gas company Gazprom than expected this year, according to Russian sources.

The first company due to settle on a take-or-pay basis is Italy's Eni, followed by Turkish company BOTAS, German firms E.ON, BASF and RWE, and France's GDF Suez and Total, Russian newspaper Kommersant said, quoting an unnamed source.

According to the newspaper report, Gazprom's board of directors said that third-quarter gas deliveries had not significantly picked up from the first half of the year, when deliveries to Western Europe dropped 29% on the year.

Following a sharp fall in gas demand this year, one such western company is believed to be in talks with Gazprom over payment.