Bloomberg: GDF Suez Gas Contracts Revised to Boost Link to Spot Prices

GDF Suez SA, Europe’s largest utility by market value, said “nearly all” its long-term natural-gas supply contracts had been amended to strengthen the link with day-to-day prices and reduce import costs.

Taken together GDF Suez’s long-term contracts are now more than 25 percent linked to spot natural gas prices, up from 10 percent in 2010, spokeswoman Sabine Wacquez said by phone today. The contracts will see a “significant drop” in import costs and could be further amended for 2013, Wacquez said.  MORE