Gazprom agrees cheaper tariff in confidential agreement

As more European oil companies turn to the courts in their battle to win cheaper tariffs, Gazprom has agreed to lower its rates for Italian firm Edison SpA.

Edison had already appealed to the Stockholm Arbitration Court, claiming that it had lost money buying gas from a joint venture between Gazprom and Eni following a drop in global process.

According to Russian business newspaper Kommersant, Gazprom and Edison have now reached a confidential agreement, meaning that the court case has now been dropped.

It is not known what the agreed new rates are, or whether this information is likely to be made available under the terms of the agreement.

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