Gazprom Global LNG and GDF SUEZ concluded an agreement for the purchase and sale of 15 cargoes of LNG over a two and a half year period.
Under this deal, Gazprom Global LNG (GGLNG) will purchase 15 FOB* cargoes of LNG from GDF SUEZ, or around 0.9 million tonnes. The cargoes are intended to be sourced by GDF SUEZ from its diversified LNG portfolio, the first one being planned for early 2011.
Frederic Barnaud, President and Managing Director of Gazprom Global LNG said: “We have experienced tremendous growth of our LNG portfolio over the last couple of years, particularly in developing our Asia-Pacific basin activities. This deal further strengthens our position as a world-class LNG marketer on both sides of the Suez Canal and active participant in the LNG shipping market”.
Vitaly Vasiliev, CEO Gazprom Marketing & Trading added: “We are delighted to extend our close co-operation with GDF SUEZ through this term contract and look forward to developing our relationship further.”
Philip Olivier, President of GDF SUEZ LNG said:“This transaction is an opportunity for GDF SUEZ, one of the largest LNG importer in the world, to extend its LNG customer portfolio and deepen the long term relationship with Gazprom, already covering pipeline supplies, energy savings and efficiency, staff training and development.”
GDF SUEZ sources LNG from Algeria, Egypt, Nigeria, Norway, Yemen and Trinidad and Tobago for a total of 16.5 MT per annum of long term LNG supplies. GDF SUEZ operates 18 LNG tankers and has a significant presence in regasification terminals around the world.