GDF Suez Receives Approval to Export LNG to Europe, Asia

France’s GDF Suez received approval from the US Department of Energy to export LNG from the Cameron project in Louisiana to countries that have not signed a FTA with the USA. Even though it has not been mentioned in the note, the green light from the American government increases the probability of LNG export to Europe and Asia in the near future.

The Final Investment Decision (FID) of the Cameron liquefaction project is expected by the end of the year.

GDF Suez, the main LNG importer in Europe with 16 mtpa, looks forward to strengthening its position in the LNG market, taking advantage of a market growing five times faster the global gas market.

“The decision of the DOE to grant non-FTA approval opens a major opportunity for GDF SUEZ to further develop long-term LNG sales in a fast-growing global market. Cameron LNG will open new horizons for US gas production that is dramatically boosted by the shale gas revolution and will strengthen GDF SUEZ position in LNG world market,” Gérard Mestrallet, Chairman and CEO of GDF SUEZ, commented in a note released on Wednesday.

Under the Joint Venture Agreement signed with Sempa, Mitsubishi and Mitsui signed seven months ago, the French company holds a 16.6% stake in the LNG project in Louisiana.