Europe in debt from Gazprom .

Application of European companies to purchase gas from Gazprom for 10 billion cubic meters less than the amount specified in the contracts. Price not withdrawn gas is estimated at $ 2.5 billion, and Gazprom may seek to repay them, writes The Wall Street Journal. The Europeans point out that Ukraine, Russia company just the same duty European consumers this year are going to buy Russia's gas to 7% less than they are obliged under the contract. Now Gazprom may penalize buyers for $ 2.5 billion for the shortfall, which intends to do, reports The Wall Street Journal. However, Russia's gas holding will have to explain why Ukraine, a similar duty, he forgives. In the crisis had to be easy, even Russia's largest companies - gas monopoly Gazprom. Earlier this year the price of "blue fuel" have fallen off after the price of oil. In addition, the company had to reduce exports of its products. Industry in Europe during the global recession, slow down, and the need for "blue fuel" has declined. As a result, European energy companies this year bought a much less gas from Gazprom, which they were obliged under the terms of long-term contracts. Applications largest European consumers were at least 10 billion cubic meters, the newspaper The Wall Street Journal, citing a source close to Gazprom export ". It turns out that you select only 140 billion cubic meters instead of 150 billion cubic meters, ie 7% below the level of "take or pay". Price not withdrawn gas is estimated at $ 2.5 billion, and Gazprom intends to make their payment, the newspaper notes. However, the issue can be resolved so that European companies in the next year redeemed more gas than they should under the contract, said the source publication. Analysts at the same time note that the precedents when European buyers have to pay Gazprom for the shortfall, it was not. However, in Russia the company may have difficulty in "knocking out" the debt of European consumers. After all, Gazprom has already made an exception to the rule of "take or pay" for the Ukrainian side, the newspaper said. Recall that the signed in January this year for the period up to 2019 gas contracts between Gazprom and Naftogaz Ukraine contain the condition "take or pay". In the first half of "Naftogaz" almost every month broke the agreement by selecting the gas in smaller than specified, volumes. Thus, the contract provides for delivery of the first quarter of 5 billion cubic meters. m, the second - 10 billion cubic meters. m. "Naftogaz" is imported in the first quarter of 2.8 billion cubic meters. m, the second - about 5.7 billion cubic meters. m. Formally, this gives the right to Gazprom present Naftohaz penalties in the amount that President Yushchenko was valued at $ 5.25 billion "The Europeans are now saying: you will not punish Ukraine, why are you punishing us?" - Complained about the source of publication, close to "Gazprom export". The system of "take or pay" is a legacy of times when the gas industry was in its infancy. Then the liquid spot markets do not exist, and producers in need of long-term contracts with stable prices in order to carry out the huge investments needed to develop new gas fields. In the current circumstances, some experts offer radically revise the current system tsenooobrazovaniya gas. The fact that the financial crisis and downturn in the economy led to a decline in demand for gas. At the same time the supply has increased due to new projects for the extraction of shale gas in North America and start new projects for the production of LNG (liquefied natural gas). Glut in the market brought down the price of gas on spot markets, such as the UK National Balancing Point (NBP) and Zeebrugge in Belgium. In August, the price of gas for delivery in this winter on the NBP dropped to 40 pence per therm from 100 pence per therm in June 2008. European customers who buy gas from companies such as Gazprom ", Sonatrach, StatoilHydro, have not benefited from the reduction in spot prices, because the price of European long-term gas contracts tied to the price of oil, which remains high. Oil rebounded after falling to $ 35 per barrel and now is around $ 80. Now, some representatives of the gas industry in general in favor of the revision of the pricing mechanisms in the contracts with the transition from oil prices to spot market prices. Gazprom also protects linking gas prices to oil prices, since the spot market does not have sufficient traffic to provide better price signals. "NBP turnover of 15 billion cu. M of gas per year, while Gazprom has sold 160 billion cubic meters. M of gas to Europe last year. If we used the NBP, it would be like a tail wagging the dog" - quoted edition of the head of the structuring of contracts and pricing department of the analysis and optimization of Gazprom Export Sergei Komleva.