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Gazprom, Gaz de France extend gas deals until 2030

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Russia's gas monopoly Gazprom and Gaz de France Tuesday extended their gas contracts from 2012 to 2030 and agreed on additional deliveries beginning in 2010.
MOSCOW, December 19 (RIA Novosti) - Russia's gas monopoly Gazprom and Gaz de France Tuesday extended their gas contracts from 2012 to 2030 and agreed on additional deliveries beginning in 2010.

"We have signed an agreement to extend the current contracts for Russian gas supplies until 2030," Gazprom's chief executive said. "We have also agreed to start additional gas deliveries to Gaz de France from late 2010 through the Nord Stream pipeline."

The Gazprom-led Nord Stream project is designed to lay down a pipeline along the Baltic seabed from Russia to Germany, and on to Western Europe.

The pipeline includes two parallel legs measuring 750 miles each. The first leg of the pipeline, with an annual capacity of 27.5 billion cubic meters, is set to come on stream in 2010, and the second will double capacity to 55 bln cu m.

Alexei Miller said Gazprom would provide 12 bln cu m of gas until 2030, and 2.5 bln cu m in extra deliveries from 2010.

Under the new agreement, Gazprom will also begin pumping up to 1.5 bln cu m a year directly to French customers from October 2007.

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