GDF Suez Inks LNG Storage, FLNG Deals in China

GDF Suez has signed several agreements with Chinese partners in the field of natural gas storage, provision of regasification of liquefied natural gas and the environment.

The French company has signed a technical services contract with China National Petroleum Corp. (CNPC) for the evaluation of six projects to convert depleted fields in underground storage of natural gas. The storage volume would be 10 billion cubic meters.

GDF Suez will also provide China with a floating storage and regasification to accelerate the ability to receive LNG in Tianjin, a hundred kilometers from Beijing to support the growth of the region, the French firm said in a statement.

The agreement with China National Offshore Oil Corporation (CNOOC) provides sub-chartering of LNG GDF SUEZ Cape Ann from October 2013 for a period of up to five years.

The boat is permanently moored in Tianjin and become the first floating LNG import terminal in China. The delivery follows the signing in 2011 of a cooperation agreement on floating storage units and LNG regasification between GDF Suez and CNOOC.