Gazprom, EDF Ink Deal on Gas Power Generation in Europe

Russian gas giant Gazprom and France’s EDF have signed a cooperation agreement for the possible construction and acquisition of gas-fired power plants in Europe, Gazprom said in a statement.

“The document provides for the possibility of joint construction of gas-fired power plants and acquisition of existing ones on a parity basis. The Agreement also stated that Gazprom would be the exclusive supplier of gas for the needs of joint power plants,” Gazprom said.

“The Agreement between Gazprom and EDF is a culmination of the intensive work between the companies aimed at developing an optimal model of cooperation on power generation. I am confident that joint efforts in this strategically important area will significantly contribute to the strengthening of the energy dialogue between Russia and Europe,” – Alexey Miller, CEO of Gazprom said.

“This Agreement is part of the ongoing collaboration between EDF and Gazprom, which began in November 2009, within the areas of gas and electricity, the first real implementation of which was EDF’s involvement in the offshore section of the South Stream gas pipeline project. Today, EDF and Gazprom are extending their collaboration to future projects for gas-fired power stations in Europe. EDF aims at building strong partnerships with worldwide major energy players,” – Henri Proglio, CEO of EDF stated.

[mappress]
LNG World News Staff, June 25, 2012