Nov. 29 (Bloomberg) -- OAO Gazprom, Russia’s gas- transportation monopoly, agreed on a price formula to buy large- diameter pipes from domestic producers including OAO TMK, OMK’s Vyksa Steel Works, ChelPipe and OAO Severstal.
The formula is linked to prices for steel plates and steelmaking materials, such as iron ore, coking coal and scrap, as well as to Russian producer price inflation, Gazprom said in a statement today. The contracts will be for at least one year.
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