GDF Suez reports H1 results

GDF Suez reported revenues of €39.4 billion and Ebitda of €6.6 billion for the first half of 2014.

The company’s Global Gas and LNG business line reported an Ebitda of €1.033 million, which the company said reflected “the strong LNG abritrage activity in Europe and Asia and the commissioning of many gas fields in Europe” in the second quarter of the year.

The company cited the following successes in the implementation of its LNG strategy:

• The receipt of US Federal Energy Regulatory Commission (FERC)’s order for the Cameron LNG project in which GDF Suez holds a 16.6% interest and 4 million tpa liquefaction capacity.
• The signing of two 20-year LNG sales contracts from the Cameron LNG project (the two deals were signed with Taiwanese company CPC for 0.8 million tpa and Japanese utility company Tohoku for 0.3 million tpa).
• LNG storage installations optimisation at the Mejillones terminal, Chile.
• Signature of a cooperation agreement protocol related to a feasibility study for an onshore LNG terminal in Indonesia.
• Signature of an agreement with NYK and Mitsubishi to develop LNG as marine fuel worldwide.

Adapted from press release by Ted Monroe

Read the article online at: https://www.lngindustry.com/small-scale-lng/04082014/gdf-suez-reports-results-and-successes-for-the-first-half-of-2014-1141/