The largest consumers of the Russian gas in Europe first of all Germany, Italy and Turkey in 2009 because of crisis and drop in production do not pick on the minimum volumes provided by contracts. As a result Italian ENI, German E.ON, Turkish Botas and a number of other companies get under take or pay contract and theoretically should pay to "Gazprom" penalty in the sum of $2,8 billion.
Turkey already asked to suspend the contract. Italy and Germany also do not want to pay, referring to freeing Ukraine of the penalty. "Gazprom" does not wish to make indulgence to counterparts yet.
There were already precedents of application of take or pay contract in relation to German joint venture with BASF - Wingas and to Italian joint venture with ENI - Promgaz. But they were used for selling of insignificant volumes of gas. In relation to heavy users take or pay contract hasn't been applied till now.
Experts notice that trading at EU stock exchanges where prices for gas are now twice lower, than under the contracts of "Gazprom", monopoly dumpings own long-term contracts and large counterparts of the Russian monopoly in Europe incur losses.
In 2009 "Gazprom" plans to sell under stop contracts 13 billion cubic metre in Europe (total amount of deliveries of gas to Europe should make 131 billion cubic metre). ENI, E.ON and others lose industrial consumers as those buy gas independently or through other traders at stock exchange for $116, while under long-term contracts of "Gazprom" it costs $287.
From editorial board: In due time we lost Ukraine for 3 billion dollars fro "Gazprom". Now we are loosing Europe for $2,8 billion.
А.B.
