China's CNOOC signs LNG deal with GDF Suez

Zacks.com submits: CNOOC Ltd. (CEO) has signed an agreement with BG Group of Australia for the purchase of liquefied natural gas ((LNG)) from its Queensland Curtis LNG ("QCLNG") facility on Curtis Island, Australia. As per the agreement, CNOOC will purchase 3.6 million tons of LNG annually for next 20-year period. CNOOC will also become a 10% equity investor in QCLNG liquefaction Train 1.

French energy giant GDF Suez on Saturday signed a deal to sell 2.6 million tonnes of liquefied natural gas to China between 2013 and 2016 as the energy-hungry nation steps up gas imports.The agreement was signed with China's overseas energy firm China National Offshore Oil Corporation (CNOOC) in the presence of GDF Suez's chairman, Gerard Mestrallet. No sale price was published.The contract "represents a major step for our presence in China's energy sector," said Mestrallet.It comes after GDF Suez made its first LNG delivery to Shanghai in August.

By Pierre Sookiew:GDF Suez (GDFZY.PK) is the world's largest independent power producer. It operates liquefied natural gas facilities, energy efficiency services and environmental services. Present in over 60 countries, it employs roughly 219,000 people around the world, and had revenue of 90.7 billion euros ($120.2B) in 2011. Recent news

Repsol SA, Spain’s largest energy company, expects to sell liquefied natural gas assets for about 2-billion euros (US$2.7-billion) by early February, according to a person familiar with the matter.

Centrica Plc, the U.K.’s largest household energy supplier, signed a 20-year deal to import natural gas from the U.S., securing supplies as production from British North Sea fields decline.

By Pierre Sookiew:GDF Suez (GDFZY.PK) is the world's largest independent power producer and operates liquefied natural gas facilities, energy efficiency services and environmental services. Present in over 60 countries, it employs roughly 219,000 people around the world, and had revenue of 90.7 billion euros ($120.2B) in 2011.

By Energy and Capital:In a sign of China’s commitment to securing fuel sources in order to meet an ever-rising domestic demand, the China National Offshore Oil Corp. is set to pay BG Group Plc. (BRGXF.PK) $1.93 billion for a supply contract as well as another stake in BG’s Queensland Curtis LNG project in Australia.

Repsol has sold liquefied natural gas assets to Royal Dutch Shell for US$4.4-billion in cash in a deal that will cut the Spanish oil major’s net debt by more than half and ease concerns over its credit ratings. The sale includes LNG assets based in Trinidad and Tobago, Peru and the Bay of Biscay but not Canadian plant Canaport, which was originally put on the block but failed to draw interest from bidders.