GDF Suez Opens Singapore Trading Floor

June 7, 2012

GDF SUEZ announces the opening of a trading floor in Singapore, which belongs to the Group’s subsidiary, GDF SUEZ Trading. This new trading platform began trading in the markets on June 4, 2012.

The reason for introducing GDF SUEZ Trading’s operations in Singapore is to support the Group’s expansion in Asia-Pacific and to develop hedging offers for its customers/counterparties in the area (producers, transport-shipping operators, mid-streamers, industrial companies), so that they can manage their exposure to energy price movements.

Expansion in Asia is key to the strategy of GDF SUEZ, which already has a major development platform across the region and a significant presence in power generation, liquefied natural gas (LNG), exploration-production, and environmental services.

GDF SUEZ Trading Singapore is beginning its operations with financial trading of crude oil and refined products, coal, and Asian LNG references, such as the Japan Crude Cocktail.

This integrated platform currently has a team of 12, consisting of front office personnel (traders and sales) and support staff (middle/back office, risk management and legal staff). It will be drawing on the resources, tools and processes of GDF SUEZ Trading in Paris and Brussels, which has been in the market for more than a decade. GDF SUEZ Trading Singapore is headed by Eric Simon, a commodity trading professional.

The Singapore floor strengthens the Group’s international trading activities by supplementing operations in Europe. It also boosts the ability of GDF SUEZ Trading to provide Asia-Pacific customers with optimal service and meet their specific needs as a result of its geographical proximity.

For Jean-François Cirelli, Vice-Chairman and President of GDF SUEZ, and Chairman of the Board of Directors of GDF SUEZ Trading, “Singapore is Asia’s energy trading hub. The opening of a trading floor by GDF SUEZ will support the Group, whose operations in Asia-Pacific are expanding rapidly. This trading platform will be of great benefit to our customers and will complement our European operations.”

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LNG World News Staff, June 07, 2012.