Moscow (Platts)--16Aug2011/554 am EDT/954 GMT

Russia's Gazprom said Tuesday its export arm is currently in consultations over demands to renegotiate the contracted price in its long-term gas contracts with several of its key European partners, including GDF Suez, Shell Energy Europe, RWE Transgas, E.ON Ruhrgas and Eni.

"Currently Gazprom Export is in commercial consultations with RWE Transgas, SPP, Shell Energy Europe, E.ON Ruhrgas, Eni, GDF Suez, EconGas, GWH Gashandel and Centrex," Gazprom said in its second quarter financial results prepared under the Russian accounting system.

Many of Gazprom's customers have been seeking to reduce the price for Russian gas because prices on European spot markets are lower than the oil-indexed prices that are used in long-term contracts.

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Last week, Germany's RWE said it did not expect any resolution to its attempts to renegotiate its gas contracts with suppliers until 2012 or 2013. RWE earlier this year took its contracts with Gazprom to formal arbitration. Its fellow German utility, E.ON, recently took the same decision.

Gazprom said in its report that as a result of talks in 2010, price agreements were reached with E.ON Ruhrgas, GDF Suez, Eni, GasTerra and others. In some cases, Gazprom has agreed to alter contracts for a three-year period to include a ratio of up to 15% spot prices and 85% oil-indexed prices.

However, in June Gazprom CEO Alexei Miller reiterated that his company does not expect to change its oil-indexed gas contract system, arguing long-term contracts provide a more predictable and stable product with greater flexibility on volumes.

--Jake Rudnitsky, jake_rudnitsky@platts.com