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. Last Updated: 07/27/2016

Gazprom, EDF in Deal

Gazprom and France's EDF agreed to jointly build and acquire existing gas-fired power plants in Europe, Gazprom said Friday.

"The agreement also states that Gazprom will be exclusive gas supplier for jointly owned power stations," Gazprom said about the cooperation with EDF, which is also its partner in the South Stream pipeline project.

Gazprom, which holds 27 percent of Europe's gas market, has long been trying to make a foray into European Union power generation. Gazprom had also been in talks with France's GDF Suez over the possibility of exploring energy projects.

(Reuters)