E.ON Russia (EONR.RS) said Tuesday that its contract to receive natural gas from Russia's biggest independent gas producer OAO Novatek (NVTK.RS) from 2013-2027 is worth around 702 billion Russian rubles ($22 billion).
E.ON Russia (EONR.RS) said Tuesday that its contract to receive natural
gas from
Russia
's
biggest independent gas producer OAO Novatek (NVTK.RS) from 2013-2027 is worth
around 702 billion Russian rubles ($22 billion).
E.ON Russia, the Russian unit of German utility E.ON AG (EOAN.XE), said last
week it had decided not to prolong its contract with state-controlled export
monopoly OAO Gazprom (GAZP.RS), switching to Novatek, which has been increasing
its presence on the domestic market at the expense of Gazprom.
Novatek said in a separate statement that it has concluded a 15-year contract
to supply gas to a Russian power plant owned by Finnish utility Fortum Oyj
(FUM1V.HE).
Novatek said it will deliver a total of more than 180 billion cubic meters of
gas under both deals.
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