Bloomberg: Gazprom Said to Seek EON, BASF Payment for Siberian Gas Reserves

OAO Gazprom , the world’s biggest natural-gas producer, is seeking payment from EON SE and BASF SE after boosting reserves at a joint project in Siberia, according to two people with direct knowledge of the matter.

Gazprom is claiming “more than 1 billion euros” ($1.35 billion) from EON, Germany’s biggest utility, and Wintershall, an oil and gas unit of BASF, one of the people said. The partners are in talks to try to sort out a “dispute and misunderstanding” about the Yuzhno-Russkoye field ’s reserves, the other person said.

The German companies were supposed to pay by Oct. 1 for an increase in reserves, while the Russian gas producer would have had to compensate for any decrease, under the terms of asset swaps the partners agreed on as part of their venture, the people said, asking not to be identified because the information is confidential.

“A reserves review for the Yuzhno-Russkoye field is part of the contract with Gazprom,” Adrian Schaffranietz, a spokesman for EON, said by e-mail late on Oct. 9. “EON is following the terms of the contract and is currently engaged with Gazprom addressing the reserves review.” Anna Bungarten, a spokeswoman at Wintershall, declined to comment on possible compensation as it’s confidential. Sergei Kupriyanov, a spokesman at Gazprom, declined to comment.  MORE