Engie and Gazprom agreed to adjust prices for gas

Representatives of PJSC “Gazprom”, LLC “Gazprom export” and the French company Engie signed in Paris the agreement on the adjustment of pricing terms of existing contracts for the supply of natural gas, in accordance with the agreements reached in March of this year. This was announced on Monday, April 11, the company “Gazprom export”, Interfax reported.

The parties also agreed to the termination of the arbitral proceedings.

Engie S. A. in December 2015, initiated arbitration proceedings against OOO “Gazprom export” in accordance with the rules of the Arbitration Institute of the Stockholm chamber of Commerce. The French company sought to revise the prices under the contract for the supply of natural gas.

Engie is the main customer “Gazprom” on the French market. In 2015, Gazprom supplied France 9,704 billion cubic meters of gas, in the first quarter of 2016 2,399 billion cubic meters.