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.

Διαβάστε ακόμα