French group ENGIE: in talks with Gazprom over changing payment scheme for Russian gas

"ENGIE has been in talks with Gazprom regarding the Russian request to modify payment scheme for Russian gas supply. The group has taken the necessary steps to be ready to execute on its payment obligations, as long as it is compliant with European sanctions' framework and does not modify the balance of risks for ENGIE," it said in a statement.

  • Updated On May 17, 2022 at 01:04 PM IST
Read by: 100 Industry Professionals
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PARIS: French power group ENGIE said on Tuesday that it was in talks with Gazprom regarding changing the payment scheme for Russian gas supplies, as it also posted higher first quarter profits and raised its 2022 financial guidance.

"ENGIE has been in talks with Gazprom regarding the Russian request to modify payment scheme for Russian gas supply. The group has taken the necessary steps to be ready to execute on its payment obligations, as long as it is compliant with European sanctions' framework and does not modify the balance of risks for ENGIE," it said in a statement.

ENGIE added that in the context of rising power prices, which have increased following Russia's invasion of Ukraine, it was upgrading its 2022 financial guidance.

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The company was now expecting 2022 group share net recurring income of 3.8-4.4 billion euros ($4-$4.60 billion), versus a previous target of 3.1-3.3 billion euros.

  • Published On May 17, 2022 at 01:03 PM IST
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