The French utility and the Spanish multinational company signed an agreement for the yearly supply of 1 bcm of natural gas.
GAS NATURAL's Managing Director of Wholesale Markets, Mr. Manuel Fernández, and EDF's Manager for Gas Mr. Dominique Venet, signed a contract today whereby the Spanish multinational company will supply the EDF with a total of 4 bcm of natural gas over the coming years.
The contract sets April 2009 as the starting date of the gas deliveries to EDF, France being the main destination.
This is the first time that a leading Spanish energy company reaches such an agreement with one of the European energy leaders and France's largest electric utility, within the context of the current integration of Europe's energy markets.
This transaction reaffirms GAS NATURAL's leadership in gas supply in the Atlantic basin, where it operates a diversified portfolio of contracts amongst an array of companies and markets.
The agreement fits into the scope of GAS NATURAL's current strategy, aimed at reaching gas sales above 7 bcm in the EU (excluding Spain, and mainly in France, Italy and Portugal), in accordance with the Strategic Plan for the years 2008-2012 that was released late last year by the company.