IOG Serves Notice on Gazprom Gas Sales Agreement Due to Ukraine War

By Anthony O. Goriainoff

IOG PLC said late Tuesday that it had served notice with immediate effect to Gazprom Marketing & Trading Ltd.--the trading arm of Gazprom PJSC--in regard to the sale of gas from its offshore U.K. fields.

The London-listed gas producer said it expects to sell the equity gas from the Elgood and Southwark fields to an alternative buyer, and that it already had a separate sales agreement with BP Gas Marketing Ltd for the Blythe field.

"Our thoughts are with everyone affected by the shocking, unprovoked invasion of Ukraine. In that context, IOG has today served notices to GM&T with immediate effect," Chief Executive Andrew Hockey said.

Write to Anthony O. Goriainoff at anthony.orunagoriainoff@dowjones.com

(END) Dow Jones Newswires

March 01, 2022 13:23 ET (18:23 GMT)

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