First LNG cargo from Yemen: a new long-term supplier for GDF SUEZ , GDF Suez

Release Date: 2009-11-26

GDF SUEZ loaded its first liquefied natural gas (LNG) cargo from the Yemen LNG liquefaction plant located at Balhaf on the eastern coast of Yemen. This delivery ensues from the agreement signed in 2005 between GDF SUEZ and Yemen LNG for the purchase, over a period of 20 years, of 2.55 million tons of LNG per year, which accounts for approximately 40% of the total liquefaction output of Yemen LNG

This long-term contract reinforces GDF SUEZ’ supply portfolio diversification and security, along with LNG coming from Algeria, Egypt, Nigeria, Norway and Trinidad and Tobago.

This new source of LNG will enable GDF SUEZ to serve US, European and Asia-Pacific markets, thanks to its strategic location, East of Suez Canal. A significant part of these volumes will be sent to GDF SUEZ’ regasification terminal of Everett in Boston, USA while the other part will offer the Group new opportunities to expand its LNG business, including in Asian and emerging markets.

The LNG volumes purchased from Yemen LNG will be shipped in the Group’s own fleet of LNG carriers. This first cargo was loaded aboard the Maran Gas Coronis, a 145,700 cubic meter LNG carrier, which is currently heading towards Isle of Grain regasification terminal, UK where GDF SUEZ holds 25% of the regasification capacity.

Type:	NORMAL
Company:	GDF Suez
Country:	France