Bloomberg: GDF Suez to Review Gazprom Gas Contract in Market Push

GDF Suez SA (GSZ), France’s largest natural gas company, plans to renegotiate a supply contract with OAO Gazprom next year as Europe moves away from linking the price of the fuel to oil.

The Paris-based company is “constantly” renegotiating its contracts with suppliers, Jean-Francois Cirelli, vice chairman of GDF Suez, said in London. The talks with Gazprom, following an accord last year, is “something for 2015,” he said.

“This year we have few negotiations to be done, but next year there will be more,” Cirelli said yesterday in an interview at the Eurelectric conference. “There is no other solution than to progressively switch to a market-based approach for our long-term contracts.”
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