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GDF Suez to purchase additional LNG to meet winter demand

LNG Industry,

GDF Suez Gas NA (GSGNA) has entered into a purchase agreement with Gaz Métro LNG that will make available up to 1 billion ft3 of additional LNG to meet the peak 2014-2015 winter demand in New England.

Frank Katulak, President and CEO of GSGNA, commented: “This second annual arrangement with Gaz Métro represents an important step in the further diversification of our supply portfolio, as well as an opportunity for us to take advantage of gas purchases on this continent to increase our supply assets, and to continue to ensure reliability to New England when resources can be tight - the winter heating season.”

“Additional and reliable supplies such as these will also allow us to cost effectively provide more services to the marketplace by optimising existing natural gas infrastructure in the region.”

Under the contract, GSGNA will commit to purchase 475,000 ft3 of natural gas over a five-month period, beginning in July 2014, with the potential to purchase an additional 500,000 ft3 over the period.

The LNG will be transported by tanker truck to New England utilities to help meet gas inventory refill requirements.

Adapted from press release by Katie Woodward

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