GDF Suez in Gazprom contract talks
GDF Suez is renegotiating long-term, oil-linked contracts with Gazprom and could take the Russian monopoly to arbitration, chief executive officer Gerard Mestrallet said on Thursday
Arbitration an option
The company is also in talks with Italy’s Eni about selling its 10.4% stake in the Elgin/Franklin gas fields, in the UK North Sea, valued at around €600 million. GDF Suez aims to sell €10 billion of assets by 2013 to help reduce debt and finance new projects.