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Rosneft, E.On Ink Gas Deal

Rosneft has signed a deal to supply gas to one of the German utility group E.On's Russian power stations over the next three years.

State-controlled Gazprom has exclusive rights to export Russian gas, but the country's non-Gazprom producers, including oil companies that are under pressure to cut harmful flaring of associated gas, are building up their own domestic supply businesses.

Rosneft said that it will supply E.On Russia's power generator in the oil town of Surgut with a total of 4.65 billion cubic meters in 2013 to 2015.

E.On Russia will also buy an unspecified volume of gas for the generator from Novatek and Surgutneftegaz, the company said.

The utilities company controls five power generators in Russia with a total capacity of 10.3 gigawatts, roughly half of which is produced by the Surgut power plant.

(Reuters)

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