Gazprom Marketing & Trading Limited and EDF Trading have agreed to swap natural gas between the U.S. and European markets. Under this agreement, EDF Trading will deliver to Gazprom in the U.S. a quantity of 0.5 billion cubic meters of natural gas per year (about 50 million cubic feet per day) for the next five years. Gazprom will deliver to EDF Trading the same quantity of natural gas per year in the UK within the same time period.
On October 1, 2009, Gazprom Marketing & Trading announced the launch of its North American natural gas business. The gas swap transaction with EDF Trading announced today will further strengthen Gazprom Marketing & Trading's supply foundation to build its marketing and trading operations in the U.S.
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