GDF Suez says it will supply LNG to South Korean firm

27th September 2010, Comments 0 comments

French energy firm GDF Suez is to sell 2.5 million tonnes of liquefied natural gas (LNG) to Kogas of South Korea over the next three years, the French company said on Monday.

The deal comes as GDF Suez seeks to expand its presence in the energy-hungry Asia Pacific region.

The Financial Times reported that the deal was worth 1.0 billion dollars, but GDF Suez would not provide any financial details when contacted by AFP.

The delivery of 41 cargos of LNG to Kogas, state owned and the world's biggest importer of LNG, would begin in the last quarter of this year and run until the end of 2013.

In January, GDF Suez bought 60 percent of three offshore gas fields in the Australian Bonaparte Basin for 200 million dollars.

© 2010 AFP

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