ENGIE enters into a partnership agreement on LNG with Kansai Electric
ENGIE and Kansai Electric, a Japanese power production company, have agreed to enter into a partnership agreement on liquefied natural gas (LNG). This agreement will provide shipping optimization and other commercial and marketing opportunities in Europe and in other LNG markets to the benefits of Kansai and ENGIE.
ENGIE will purchase 0.4 million tons per annum (mtpa) of LNG from Kansai’s North American LNG. Depending on markets conditions, ENGIE could then sell an equivalent amount of LNG to Kansai Electric in Japan. The transaction will start in 2019 for an initial period of four years which can be extended up to 20 years. ENGIE will manage these agreements – purchase, sale and shipping agreements – within its own diversified LNG portfolio.
Philip Olivier, Chief Executive Officer of ENGIE GLOBAL LNG declared: “We are delighted to initiate this partnership with Kansai Electric, a major energy player in Japan. This agreement underlines the value that ENGIE, as a major LNG player, can bring to utilities such as Kansai Electric through its diversified LNG portfolio, its capacity to trade on global LNG markets and its shipping experience.”
ENGIE is a global LNG player and the main European LNG importer. ENGIE today has one of the largest LNG supply portfolios in the world. It controls a large fleet of 14 LNG carriers under medium and long term charter agreements. The fleet is permanently optimized to satisfy ENGIE’s long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world.
ENGIE develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take on the major challenges of energy’s transition to a low-carbon economy: access to sustainable energy, climate-change mitigation and adaptation, security of supply and the rational use of resources. The Group provides individuals, cities and businesses with highly efficient and innovative solutions largely based on its expertise in four key sectors: renewable energy, energy efficiency, liquefied natural gas and digital technology. ENGIE employs 152,900 people worldwide and achieved revenues of €74.7 billion in 2014. The Group is listed on the Paris and Brussels stock exchanges (GSZ) and is represented in the main international indices: CAC 40, BEL 20, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and Euronext Vigeo (World 120, Eurozone 120, Europe 120 and France 20).