Gazprom sees amicable end to gas contract row

Arbitration filed against Russian exporter by European utilities are expected to end “amicably”

Gas contract arbitration claims filed against Gazprom by European utilities are expected to end “amicably”, the Russian gas export monopoly said.Poland’s PGNiG and Germany’s E.On and RWE are taking on Gazprom over loss-making oil-indexed gas contracts. The European utilities have shed billions of dollars after locking into Russian gas bought on long-term contracts linked with crude prices – which have risen sharply since 2009 – and selling at hub levels, which have remained relatively flat.“We will find a solution out of court... and basically we’re moving in that direction," Sergei Komlev, head of contract structuring and price formation at Gazprom Export, said in an interview with Petroleu