Gazprom agrees to reduce gas price for French Engie

Gazprom and the French energy concern Engine have agreed to revise the contract price for Russian gas. Representatives of the two companies, as well as Gazprom Export signed an agreement on "adaptation of price conditions of the existing contracts for natural gas supply" in accordance with the agreements, reached in March 2016. At the same time, the parties agreed to terminate the arbitration proceedings, which Engie initiated in Stockholm against Gazprom Export with the requirement to revise the contract price for gas in December last year.