MOSCOW, Oct 20 (Reuters) - Russia's Gazprom and France's EDF clinched a gas swap deal which will allow the Russian firm, the world's largest gas producer, to further penetrate U.S. markets, the two companies said on Tuesday.
EDF agreed to deliver 0.5 billion cubic metres of gas per year (about 50 million cubic feet per day) to Gazprom in the United States for the next five years in exchange for the same volumes that Gazprom would deliver to EDF in the United Kingdom.
This agreement enables us to ramp up our U.S. operation and provides us with gas supplies in areas of strategic importance,' the statement quoted Vitaly Vasiliyev, chief executive of Gazprom Marketing and Trading, as saying.
The statement also quoted John Rittenhouse, CEO of EDF Trading, as saying: 'We are looking forward to expanding our relationship with Gazprom. This agreement will help extend the coverage of our gas business beyond Europe...'
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