E.ON halts procuring new gas from Gazprom trading companies

E.ON’s (EONGn) Chief Executive Officer Leonhard Birnbaum said yesterday that the group had halted procuring new gas amounts from Gazprom trading companies in Europe, while responding to the military conflict in Ukraine.

Although the group has no long-term supply contracts directly with gas producers, a small amount in its portfolio has been acquired from Gazprom trading firms, the CEO said.

Still, Birnbaum warned that a sudden discontinuation of energy imports from Russia would deliver a blow to the company.

“The Russian market is not one of our target regions. But one thing is clear: If there is a more or less extended physical shortage of energy imports, it would have consequences for us as well,” the CEO said at E.ON’s annual press conference.

As of 10:27 GMT on Thursday the shares of E.ON SE were losing 1.12% (EUR 0.121) on the day to trade at EUR 10.643 on Xetra.