Gazprom and Gaz de France sign agreement on gas supplies

Gazprom and Gaz de France signed an agreement on natural gas supplies in Paris today. The agreement is for supplying France with 8bn cubic meters of gas until the year 2015 inclusively. According to Gazprom's press service, the agreement prolongs the term of the major export contract by 7 years. Prices mentioned in the contract take into account cost increases due to production and transportation of gas.

Gaz de France's CEO Pierre Gadonneix claims the agreement assures stable supplies of Russian gas to France and strengthens ties between the companies.

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