Germany's E ON, Gazprom may fail to agree on lower gas price

BERLIN, August 1 (Itar-Tass) -- Germany's E.ON and Russia's Gazprom
may fail to agree on a lower gas price under long-term contracts, the
German magazine Focus reported on Sunday with the reference to the E. ON
spokesperson.
The magazine reported that E. ON hoped for a lower gas price under
long-term contracts linked to the oil price. The gas market has much more
cheaper offers, the Focus magazine reported.
The German concern hopes to gain a price concession from Gazprom that
the Russian gas major has not agreed to. The Focus magazine learnt that E.
ON is pondering over a plea to the International Arbitration Court in
order to make the Russian company reduce the gas price.
Meanwhile, the DPA news agency reported that E. ON Ruhrgas, which is
an E. ON subsidiary, sustains major losses that may reach about one
billion euros over lower prices on the gas market.