Gallic utility Gaz de France has signed a new deal with Russian gas giant Gazprom that extends their contract for the supply of Russian natural gas.
The new arrangement will see the companies extend their existing natural gas supply contracts, currently representing a total of approximately 12 billion cubic meters per year, until 2030.
Furthermore, from the end of 2010, Gaz de France will receive additional volumes of 2.5 billion cubic meters of natural gas per year, which will be carried though the Nord Stream.
Both companies have also agreed to increase their ongoing cooperation related to supplying liquefied natural gas (LNG), training and environmental protection.
Jean-Francois Cirelli, chairman and CEO of Gaz de France, said: I am delighted to sign these new agreements with Gazprom, one of Europe’s major suppliers of natural gas. The extension of our commercial cooperation with Gazprom helps to ensure the long-term reliability of our customers’ supply in France and in Europe.