GDF SUEZ signed a major cooperation MOU with Shenergy to promote cooperation in energy sector in Shanghai
Gérard Mestrallet, Chairman and CEO of GDF SUEZ, signed a cooperation agreement with Wu Jianxiong, CEO of Shenergy Group, to develop cooperation in energy sector, and joint exploration and sharing of development opportunities in Shanghai.
The scope of cooperation includes natural gas, energy services industry, power generation and related businesses, mainly covering liquefied natural gas, decentralized energy, gas to power generation, low emission energy application, and infrastructure projects. Both companies aim at developing technical cooperation and communication in natural gas transportation and distribution, including the organization of staff trainings, learning missions, and enhance technical cooperation and communication in power generation.
Gérard Mestrallet, Chairman and CEO of GDF SUEZ stated, «This agreement illustrates the commitment and strengthening involvement of GDF SUEZ in sustainable growth in China. The Group’s long-term relationships in China have been marked by the 2011 cooperation agreement signed with China Investment Corporation (CIC), the 2012 partnership with PetroChina to develop six deep underground gas storage tanks, and the 2013 installation of a first floating LNG import terminal. The Group’s expertise and know-how in the gas value chain and in energy services is recognized by our partners in China, Beijing Gas Group with whom we signed a cooperation agreement last March, and today Shenergy Group.»
Shenergy Group is a major investor and constructor of large energy infrastructures in Shanghai and the main supplier of electricity and gas energy to the city. It employs 12.000 people and has a revenue of some 5 billion Euros.
GDF SUEZ presence in China
GDF SUEZ has been present in China for over 40 years through the activities of its strategic partner SUEZ Environnement, which serves 15 million customers through 33 joint ventures in approximately twenty cities. Managed revenues generated by SUEZ Environnement reached €1.3 billion in 2012.
In 2008, GDF SUEZ opened a representative office in China and all of its energy business lines developed relationships with Chinese partners for projects in China and other countries.
In electrical power, GDF SUEZ supports joint carbon emissions reduction projects (Clean Development Mechanisms–CDM), while its engineering teams assist in the development of the Taishan EPR and support the development of hydroelectric projects in other countries with Chinese partners.
In natural gas, GDF SUEZ signed a worldwide partnership in 2011 with the Chinese sovereign fund CIC granting the latter a 30% share in GDF SUEZ exploration and production activities. The Group sold 2.3 million metric tons of LNG to the China National Offshore Oil Corporation (CNOOC), with deliveries beginning in 2013, and installed the first floating regasification terminal in China. In 2012, GDF SUEZ also began a cooperation agreement with PetroChina to explore the upstream gas potential in Qatar, then extended the
agreement to gas storage in China in 2013 (development support for six sites). The Group currently assists Shanghai Gas Group, a unit of Shenergy Group, for the expansion of one of its LNG terminals.
In energy services, following the launch in 2009 of a trigeneration project in western China with Chongqing Gas, the Group signed a partnership agreement in 2011 with the TIFI Group in Tianjin to develop an urban cooling network in the heart of the new Yujiapu financial district in the coastal area of Tianjin-Binhai. In late 2013, the Group opened its first energy services company, Cofely-Gient, in Chongqing.
In March 2014, GDF SUEZ signed a major cooperation agreement with Beijing Enterprise Group to develop energy projects in Beijing and other parts of China and promote the development of sustainable urban eco-districts.
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).