Russia's gas giant Gazprom does not expect its 2013 retroactive payments to European clients to be significantly above the Rb23 billion ($699 million) level reached in the first quarter of the year, Mikhail Rosseyev, the company's deputy chief accountant, said Thursday.
"In the first quarter, our retroactive payments reached Rb23 billion. At the moment, we cannot give a precise figure [for the full year], but we do not expect significant additional obligations," Rosseyev said at the company's media briefing.
"We believe, the issue [of retroactive payments for this year] has more or less been closed," Rosseyev added.
The retroactive payment figure of Rb23 billion is roughly in line with the expectations Gazprom Export head Alexander Medvedev voiced earlier this month to journalists.
"We expect that the sum of retroactive payments on the conclusion of negotiations, which are currently taking place, will not exceed $800-900 million," Medvedev said then.
At the same time, in 2013, the company has allocated up to Rb200 billion for future retroactive payments, Andrey Kruglov, Gazprom's deputy chairman, told reporters at the sidelines of the briefing.
The allocated sum can be used for additional retroactive payments this year or be transferred into 2014, Kruglov said at the briefing.
Retroactive payments to Gazprom's European clients are a result of supply price adjustments that came after the clients complained of paying too much for the gas under long-term, oil-price-linked contracts, which were above spot gas market prices.
In 2012, Gazprom recognized retroactive payments of Rb102.749 billion ($3.3 billion), after reviewing pricing conditions for Austria's Econgas, GWH Gashandel and Centrex, Italy's Eni and EGL, Germany's E.On Ruhrgas, WIEH, and WINGAS, Shell Energy Europe, Poland's PGNiG and Denmark's DONG, Dutch GasTerra, Romania's WIEF and Conef Energy, and Bulgaria's Bulgargaz.
Last week, Gazprom said it had reached further price adjustment agreements with Eni.
