Gazprom Global LNG (a subsidiary branch of the Russian Gazprom Holding - Gazprom Marketing & Trading) and the energy and gas company GDF Suez (France) have entered into a long-term agreement for the purchase and sale of LNG over a two and a half year period, GDF Suez press release said.
Under the terms of the deal, Gazprom Global LNG (GGLNG) will purchase 15 free on board (FOB) cargoes of LNG from GDF SUEZ, or nearly 0.9 million tons. The cargoes are intended to be sourced by GDF SUEZ from its diversified LNG portfolio, the first delivery is scheduled for early 2011.
“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”, Frédéric Barnaud, President and Managing Director of Gazprom Global LNG was quoted as saying.
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.”
Gazprom Global LNG, a 100-percent subsidiary Gazprom Marketing & Trading was established in 2008 for the development of Gazprom's strategy on the global LNG market. Gazprom Global LNG is a buyer of LNG cargoes produced in Sakhalin (Far East Russia).
GDF SUEZ is a French-based is a French-based energy company engaged in electricity generation and distribution, natural gas and renewable energy. energy and gas company with a turnover of 79.9 billion euros in 2009. The Company operates 18 LNG tankers and has a significant presence in regasification terminals worldwide.
“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”, Frédéric Barnaud, President and Managing Director of Gazprom Global LNG was quoted as saying.
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.”
Gazprom Global LNG, a 100-percent subsidiary Gazprom Marketing & Trading was established in 2008 for the development of Gazprom's strategy on the global LNG market. Gazprom Global LNG is a buyer of LNG cargoes produced in Sakhalin (Far East Russia).
GDF SUEZ is a French-based is a French-based energy company engaged in electricity generation and distribution, natural gas and renewable energy. energy and gas company with a turnover of 79.9 billion euros in 2009. The Company operates 18 LNG tankers and has a significant presence in regasification terminals worldwide.