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Tuesday, March 02, 2010

France and Russia forge alliance with gas, warship deals

Mistral-class Amphibious assault shipFrench firm GDF Suez is to buy a share in Russia's Nord Stream gas pipeline, with talks on the sale of four state-of-the-art French warships to Russia also gathering pace.

Progress on the two deals was announced on Monday (1 March) during a three-day visit by Russian President Dmitry Medvedev to Paris.

The agreement between GDF Suez and Gazprom, the majority shareholder in Nord Stream, is to see the French firm take a nine percent stake in the pipeline and Russia to increase gas deliveries to France by 1.5 billion cubic metres a year from 2015.

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