GDF Signs Two Deals in China for LNG
GDF SUEZ reinforces its commitment to China and to the Asia-Pacific region: signature of the first milestone of its partnership with CIC and new LNG agreement with CNOOC
On the occasion of his visit to China, Gérard Mestrallet, Chairman and CEO of GDF SUEZ signed two agreements today with China Investment Corporation (CIC) and China National Offshore Oil Corporation (CNOOC) illustrating the development strategy of GDF SUEZ in China and in the Asia-Pacific region.
Last August, GDF SUEZ and CIC announced an agreement for cooperation across multiple businesses and regions that will provide additional development opportunities for the Group, in particular in the Asia-Pacific region. A first steering committee co-chaired by Lou Jiwei, Chairman and CEO of China Investment Corporation and Gérard Mestrallet took place today in Beijing.
As the first milestone of this cooperation, GDF SUEZ and CIC officially signed today an agreement covering a €2.3 billion minority investment in the Exploration & Production Division of GDF SUEZ and the acquisition by CIC of a 10% stake in train 1 of the Atlantic LNG liquefaction plant in Trinidad and Tobago.
As part as the development of its activities in the region, GDF SUEZ also signed with CNOOC a cooperation agreement in the liquefied natural gas (LNG) sector. Through this agreement, GDF SUEZ will provide CNOOC with a shuttle and regasification vessel to be used as a floating storage and regasification unit in China. This follows the recent signing of a cooperation framework agreement with Beijin Gas Group which covers several fields of cooperation such as natural gas, LNG or energy services.
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