GDF SUEZ, Tohoku Ink Long Term LNG Agreement

GDF SUEZ and the Japanese utility company Tohoku have signed on 16 May 2014 in Paris a long term LNG sale and purchase Heads of Agreement.

Under this new agreement GDF SUEZ commits to deliver 270,000 tonnes per year (tpa) of liquefied natural gas (LNG) to Tohoku Electric Power. The long term contract will start in 2018 and last for a 20-year period.

Volumes will be supplied with natural gas from the US which will be liquefied in the Cameron LNG plant. GDF SUEZ will be one of the first companies to supply Asia with American LNG, thanks to its LNG carrier’s fleet and a diversified LNG portfolio.

The Cameron LNG export project which partners are GDF SUEZ, Sempra, Mitsubishi and Mitsui has received conditional approvals from the US Department of Energy (DOE) and partial agreement from the Federal Energy Regulatory Commission (FERC) and is likely to be finally sanctioned within the course of this year.

Jean-Marie Dauger, Executive Vice-President of GDF SUEZ in charge of the Global Gas & LNG business line commented: “This sales agreement seals our first long term LNG sale with a Japanese partner, as well as the emergence of US LNG contributing to Japan energy supply, thanks to the benefit of the shale gas revolution in America. Such a contract shows how GDF SUEZ strategy is right in the heart of the present world energy challenges.”

[mappress]