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GDF SUEZ and Santos to review alternative development concepts to FLNG for Bonaparte LNG

June 19, 2014

GDF SUEZ, as the operator (60%), and the Australian company Santos (40%) announced today that the Bonaparte LNG project will consider other potential development options in addition to the FLNG concept to develop the Petrel, Tern and Frigate natural gas fields, located 250 kilometres offshore west of Darwin. These options will include a pipeline connection to Darwin.

While the partners firmly believe the fields have material value, having been fully appraised, their future development using floating LNG technology, although technically robust as demonstrated during extensive pre-FEED studies, does not currently meet companies’ commercial requirements.

Consequently, the proposed Bonaparte floating LNG project will not be taken into the front-end-engineering and design (FEED) phase at this point in time.

GDF SUEZ is one of the leading LNG players in the world and the main LNG importer in Europe. The Group has a large and diversified portfolio of LNG supplies, representing 16 MTPA and targeting 20 MTPA by 2020. It operates a fleet of 14 LNG carriers and has a significant presence in regasification terminals around the world. To expand its portfolio of LNG supplies, GDF SUEZ is involved in the development of 2 others liquefaction plants projects: Cameron LNG project in the USA, whose final investment decision is expected this year and Cameroon LNG in Cameroon.

GDF SUEZ develops its businesses (power, natural gas, energy services) around a model based on responsible growth to take up today’s major energy and environmental challenges: meeting energy needs, ensuring the security of supply, fighting against climate change and maximizing the use of resources. The Group provides highly efficient and innovative solutions to individuals, cities and businesses by relying on diversified gas-supply sources, flexible and low-emission power generation as well as unique expertise in four key sectors: independent power production, liquefied natural gas, renewable energy and energy efficiency services.GDF SUEZ employs 147,200 people worldwide and achieved revenues of €81,3 billion in 2013. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges 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).

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