Gazprom to supply up to 6 bn cm of gas annually to French utility

Nov 27, 2009 01:00 AM

Russia's Gazprom signed a deal to supply Electricite de France (EdF), the world's largest utility company, with up to 6 bn cm of natural gas annually, a Russian deputy PM said. Igor Sechin said the extra gas would be added to supplies for GdF Suez.
Last year Gazprom delivered 10.9 bn cm of gas to France. Gazprom and GdF are working under contracts valid until 2030. An agreement was also reached to supply GdF with an extra 2.5 bn cm of natural gas via the Nord Stream pipeline Russia is building jointly with Germany, and talks are underway to include GdF in the project as a shareholder.

In addition, Gazprom has been supplying up to 1.5 bn cm per year to direct consumers in France since October 2007, Sechin said. He said a number of details have yet to be discussed with Gazprom's partner in South Stream, Italian oil and gas company ENI.
Gazprom CEO Alexei Miller said that EdF would receive 10 % of South Stream's "sea sector."
"Our French colleagues will become minority shareholders of the South Stream project, of its sea sector," he said.

Gazprom and ENI currently hold equal stakes in South Stream AG, the operator of the gas pipeline, scheduled to be completed by 2015.
The project is part of Russia's efforts to cut dependence on transit nations. It is a rival project to the EU-backed Nabucco, which would bypass Russia.

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