GDF Suez agrees to sell LNG to Gazprom, Kogas

GDF Suez recently signed agreements to sell LNG to OAO Gazprom and Korea Gas Corp. (Kogas) over a 2½-year period.

Doris Leblond
OGJ Correspondent

PARIS, Sept. 28 -- GDF Suez recently signed agreements to sell LNG to OAO Gazprom and Korea Gas Corp. (Kogas) over a 2½-year period.

The company announced Sept. 27 a “medium-term” agreement with South Korea's Kogas for delivery of 41 LNG cargoes starting in the fourth quarter and extending to 2013. Overall volumes will reach around 2.5 million tonnes of LNG.

On Sept. 22, GDF Suez revealed an agreement with London-based Gazprom Global LNG (GGLNG) to sell 15 fob cargoes of LNG (around 900,000 tons). The first one is planned for early 2011 and will extend over 2½ years.

The cargoes are sourced from GDF Suez’s diversified LNG portfolio amounting to 16.5 million tonnes/year in Algeria, Egypt, Nigeria, Norway, Yemen, and Trinidad and Tobago. It’s transported on 18 LNG tankers operated.

GGLNG spokeswoman Anastasia Ivanova said the marketing destination for LNG acquired by Gazprom would depend on global demand trends.

Kogas is the world’s largest LNG importer, operating three gasification terminals and 2,700 km of high-pressure gas lines in South Korea.

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