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Russian gas supplies at risk from Ukraine crisis - Germany's utility

Germany's biggest utility E.ON says the current political crisis in Ukraine puts Russian gas supplies at risk.

"The political crisis in Ukraine may influence gas supplies and our activity in Russia," the group said in its quarterly report.

E.ON said it procured about 337 billion kilowatt-hours (kWh) of natural gas from producers in and outside Germany in the first quarter of 2014. About a third of this amount was purchased under long-term contracts, it said. The biggest providers were Russia, the Netherlands, Germany, and Norway.

The company said its core earnings fell by nearly a quarter to 309.7 billion kilowatt hours (kWh) in the first three months of the year, blaming a mild winter in Europe and weak wholesale prices that have made its gas-fired power stations unprofitable.

[Source: Itar Tass, Berlin, 13May14]

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