Price regulation extended until Oct 2024 on products from Gazprom JVs with OMV, Wintershall Dea - decree

MOSCOW. Sept 11 (Interfax) - The Russian government has extended for one year the price regulation on selling products from the Gazprom joint ventures with Germany's Wintershall Dea and Austria's OMV, respectively, with the corresponding amendments rendered to President Vladimir Putin's decree No. 943.

The government adopted the decree "On applying special economic measures in the area of supplying natural gas in connection with the unfriendly actions of several foreign states and international organizations" on December 22, 2022.

The regulation was implemented retroactively as of March 1, 2022, and it applies to gas and condensate from the Achimov deposits of the Urengoy oil and gas condensate field, gas from the Yuzhno-Russkoye field, as well as gas and condensate production services at the Urengoy Achimov deposit.

The Russian government must set within 10 days the upper limit for prices and rates in these three areas, according to the decree.

The document separately notes that the regulation established under the decree does not apply to obligations on transactions completed at organized auctions.