Gaz de France finalises a swap with Gazprom

Resumen de Prensa            Enervía, lunes, 28 noviembre 2005

FUENTE: GdF


Gaz de France has arranged a pipeline gas and LNG swap deal with Gazprom. Under the agreement, a cargo of liquefied natural gas (LNG) from Algeria will be delivered to Gazprom by Med LNG & Gas, a company jointly owned by Gaz de France and Sonatrach. In return, Gaz de France will receive additional quantities of Russian gas in gas form.
The deal enables Gaz de France to strengthen links with two of its main suppliers and to make optimal use of its sources of supply.
Gaz de France is a partner of choice for Gazprom, given Gazprom's pipeline gas strengths and Gaz de France's experience across the entire LNG chain at a time when this energy source is set to become a major avenue of development for both companies.
The swap between Gaz de France and Gazprom is part of a long-term cooperative relationship that has existed for more than thirty years and that is due to become even closer as a result of the cooperation agreement signed in September 2005. The deal also contributes to the joint marketing of LNG by Gaz de France and Sonatrach, within Med LNG & GAS activities, relative to the agreement signed between the two companies in June 2000.