Engie, Gazprom Agree Gas Price Revision

摘要

France's Engie and Gazprom Export have agreed to adapt the price formula for their long-term gas supply contracts by moving away from oil-linked pricing and boosting gas hub indexation. This follows an announcement on Monday that the two companies have reached an amicable settlement over a gas price dispute filed by Engie last year (IOD Apr.12'16). A source close to Engie said the agreement would align the supply contract closer to the French PEG market hubs but could not elaborate on details of the renegotiation.