French utility Electricite de France SA (EDF.FR) could swap power for gas with Russia's Gazprom OAO (GAZP.RS) and EDF may even pay with power for its stake in a gas pipeline, Les Echos newspaper reports Wednesday, citing a person close to talks between the two companies.
Following an agreement between the two companies for EDF to take a stake in the South Stream gas pipeline, Gazprom will be able to supply gas and get electricity in exchange, the paper cites the source as saying.
"The idea is that we can pay in electricity, for the pipes and for the gas that will be delivered" through it, the paper quotes the person as saying.
Acquiring power from EDF could allow Gazprom to win customers on the French market, the paper reports, noting that the Russian company already sells gas directly to some big customers in France.
EDF's press service wasn't immediately available for comment.