Germany’s EON may terminate contracts with Gazprom

Germany’s energy concern E.ON considers a possible termination of some contracts with Gazprom, which terms are over 10-20 years, and may focus on Western European spot markets, the Wirtschaftswoche weekly reported on Saturday. The magazine says the Russian gas is too expensive for the concern. It claims also that the Russian company turned out to be a complicated trade partner. Besides, in 2013 E.ON plans to get rid of its 54-percent share in Sweden’s Oskarshamn nuclear power plant. The German concern refused to “comment on rumours.” The concern has been selling actively its shares in European and German energy projects. It plans to sell the assets worth 15 billion euros. Besides, the company is the world’s third operator of offshore wind electric power plants and has been investing heavily in two projects in the United Kingdom and one in Sweden. E.ON plans the current financial year’s surplus will make between 2.2 and 2.6 billion euros.