Interfax cited Mr Sergei Komlev who is in charge of contract structuring at Gazprom Export as saying that Gazprom plans to retain the take or pay principle in its long term contracts, but does not rule out the possibility of altering them.

He said that "Changes could be made to the long-term contracts, but the long-term contracts themselves will remain. All the main principles, including take or pay will remain."

Mr Komlev said the changes under consideration are minor. He said that "The new realities are unlikely to be incorporated into their structure. Long term contracts are an important part of the business."

He did not specify the changes under consideration, noting that it is a matter for negotiations. He said that "I think we will find a solution."

(Sourced from Interfax)