GDF Suez LNG Sales Climb

GDF Suez recorded a growth in the company’s 2013 external LNG sales, with volumes amounting to 79 TWh for the year, representing 87 cargoes, of which 67 were shipped to Asia (2012: 60 TWh for 66 cargoes, of which 39 were shipped to Asia).

The contribution of the company’s Global Gas & LNG business to GDF Suez’ revenues for 2013 amounted to €5,685 million, up 19.5% or €926 million year on year.

The company’s revenues of EUR 81.3 billion are in slight decrease of -0.8 % (gross) compared to 2012 (organic growth of +3.0%).

“Negative impacts from scope and foreign exchange are partly compensated by increased gas and electricity sales in France due to cold weather conditions during the first two quarters, and by higher LNG sales as a result of cargoes diversions early 2013 as well as growth in international activities,” GDF  Suez said in a statement.

Gérard Mestrallet, Chairman and Chief Executive Officer of GDF SUEZ, stated: “The Group’s operational results in 2013 are strong and confirm our strategy in a very difficult economic environment for thermal power production and gas storage in Europe. We have been the first to sound the alarm since May 2013 with the Magritte group. Our industrial vision forced to decide significant impairments of some of our European businesses, which do not affect the growth perspectives of the Group worldwide. In fact, we have raised our financial targets for 2014. Moreover, GDF SUEZ will increase its development capex program, already the most ambitious in the industry. Our strategy is clear: to be the benchmark energy player in fast growing markets and to be leader in the energy transition in Europe.”

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LNG World News Staff, February 27, 2014; Image: GDF Suez