ENGIE and Gazprom Export sign agreement to adapt price of gas supply contracts

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15 April 2016, Gas

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ENGIE is indeed in continuous discussion with all its suppliers and regularly uses this type of negotiations which are part of its contracts.

The agreement reached with Gazprom Export illustrates the quality of the commercial relationship which has always prevailed between both groups since the signing in 1975 of the first natural gas supply contract between Gaz de France and Sojuzneftegazexport, more than 40 years ago.

In 2016, ENGIE's supply contracts with Gazprom Export represent about 22% of the Group's long-term supplies in Europe.

"ENGIE and Gazprom have once again demonstrated the possibility to find a commercial solution for the price revision of their long-term supply contracts, proving the quality of the relationship between the two parties," said Pierre Chareyre, Executive Vice-President of ENGIE. "With this agreement, ENGIE has de-risked its long-term supply contracts for the next years by adjusting their pricing to market conditions", Chareyre added.

Source: MarketLine

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