GDF SUEZ Becomes Natural Gas Storage Leader in Germany and Number 1 in Europe

GDF SUEZ through its subsidiary Storengy has agreed to buy five natural gas underground storage facilities in Germany and a 19.7% stake in another one. The transaction covers the storage facilities held by BEB Speicher GmbH and by ExxonMobil Gasspeicher Deutschland GmbH. Whilst BEB Speicher GmbH is an affiliate of BEB Erdgas und Erdöl GmbH (BEB) which in turn is a joint venture between Shell and ExxonMobil, ExxonMobil Gasspeicher Deutschland GmbH (EMGSG) is an ExxonMobil affiliate.

With this new acquisition GDF SUEZ is now among the top 4 leaders in the German storage market with a 10% market share (vs. 2,5%). GDF SUEZ also becomes number 1 in Europe in terms of natural gas storage capacities sales. The Group has now three stronghold positions in key markets : France, Germany and UK. Following this transaction, GDF SUEZ has today through Storengy a total storage capacity of 12.5 billion cu.m in Europe.

The Group considers Germany as a preferred market for its international development in storage activities mainly because of the increasing need for new gas storage capacities, the progressive integration of the north-western Europe gas markets, and the gas storage capacities price mechanism. GDF SUEZ owns a highly developed portfolio of storage sites in France where it operates 13 underground storage sites, representing a total storage capacity of 10 billion cu.m. Furthermore, GDF SUEZ has undertaken an ambitious development program in Europe in order to meet the new needs of the European gas market, especially in the United Kingdom where the Group is developing a 400 million cu.m storage.

The transaction includes the gas storage facilities at :

* Uelsen (near to the German / Dutch border; 100% BEB)

* Harsefeld (near Hamburg; 100% BEB)

* Schmidhausen (near Munich; 1/3 BEB-share, 1/3 EMGSG-share, GDF SUEZ currently holding the remaining 1/3)

* Lesum (near Bremen; 100% EMGSG)

* Reitbrook (near Hamburg; 50% EMGSG-share, GDF SUEZ currently holding the remaining 50%)

* Breitbrunn (near Munich; 19.7% EMGSG-share)

The production and exploration activities of BEB Erdgas und Erdöl GmbH are not affected by this transaction.

These facilities include 4 depleted fields and 2 salt caverns. The respective share of working gas volume concerned is about 1.5 billion cu.m and 80% of storage capacities are already contracted until 2020.

Before the transaction GDF SUEZ, through Storengy, was already active in the country with storage capacities in Reitbrook, Fronhofen, Schmidhausen and Peckensen.

Storengy will operate the storage facilities, currently operated by ExxonMobil Production Deutschland GmbH. The Group will fulfill the existing gas storage agreements and will take over the current staff. The parties have agreed on confidentiality of the purchase price.

The transaction is subject to approval of the relevant authorities.

About GDF SUEZ

GDF SUEZ develops its businesses around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: liquefied natural gas, energy efficiency services, independent power production and environmental services. GDF SUEZ employs 200,650 people worldwide and achieved revenues of €79.9 billion in 2009.

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Source: GDF SUEZ, February 1, 2011;