First GDF Suez long term LNG sale to Asia

Source:GDF Suez

GDF SUEZ announces the signature of a Heads of Agreement providing for the sale of LNG under a long term agreement with CPC Corporation of Taiwan (CPC). Under the terms of the agreement, GDF SUEZ will deliver 800,000 tons per year of Liquefied Natural Gas (LNG) to CPC on a 20-year period starting 2018. LNG will be sourced from the Cameron LNG plant in the USA. The Cameron LNG export project which partners are GDF SUEZ, Sempra (NYSE: SRE), Mitsubishi and Mitsui has received conditional approvals from the US Department of Energy (DOE) and partial agreement from the Federal Energy Regulatory Commission (FERC) and is likely to be firmly sanctioned within the course of this year.

Jean-Marie Dauger, Executive Vice-President of GDF SUEZ, in charge of Global Gas & LNG business line, said: “This sales agreement, the first of its kind, will contribute to export natural gas – including shale gas – produced in the US – to the global LNG market and will contribute to diversification and security of energy supply. It will also be a part of GDF SUEZ ambition to deepen its role into the Asia-Pacific region and to expand long term supply into a region where LNG demand for the future is high. We are pleased to be among the first movers in the export of shale gas from the US and to enter into a long term relationship with CPC and to contribute to the security of energy supply also in Asia.”

GDF SUEZ is a global LNG player and the main LNG importer in Europe. GDF SUEZ has the third largest LNG supply portfolio in the world, supplied from six different countries, and representing 16 mtpa. It controls a large fleet of 14 LNG carriers under mid and long term charter agreements. The fleet is permanently optimized to satisfy GDF SUEZ long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world.

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