Gérard Mestrallet, Chairman and CEO of GDF SUEZ signed two agreements 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.
As the first milestone of this cooperation, GDF SUEZ and CIC signed 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.
GDF SUEZ also signed with CNOOC a cooperation agreement in the LNG sector. Through this agreement, GDF SUEZ will provide CNOOC a shuttle and regasification vessel (SRV), the ‘GDF SUEZ Cape Ann,’ that will be permanently moored for use by CNOOC as a floating storage and regasification unit.
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.
Gérard Mestrallet, Chairman and CEO of GDF SUEZ said, “We are very pleased to hold the first steering committee meeting of our partnership with CIC that is opening strong growth prospects for all businesses in the Group. After the signing of an agreement with Beijing Gas, we are also very pleased to develop our cooperation with CNOOC, one of the energy leaders in Asia, with whom we have already signed a medium term LNG supply agreement last year. These events show our strategic commitment to China and to the Asia-Pacific region.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/31102011/gdf_reinforces_presence_in_asia_pacific_region-/