Essent purchases North Sea gas from GDF SUEZ and Lundin

abarrelfullabarrelfull wrote on 24 Jun 2014 13:41

15 December 2008

Essent, GDF SUEZ E&P Nederland B.V. and Lundin Netherlands B.V. have closed a deal for the delivery and sale of natural gas from the Dutch North Sea.

GDF SUEZ will extract gas from the gas field known as E17-A, part of the offshore fields in the Dutch North Sea. This offshore fields sector accounts for more than fifty percent of Dutch gas production.

The total expected production volume of the E17-A field is 2.5 billion cubic metres of natural gas. Essent will purchase the entire GDF SUEZ and Lundin share of the field once production begins at the end of 2009.

The conclusion of the contract between GDF SUEZ, Lundin and Essent is an important step in securing gas for Essent’s natural gas portfolio in the Dutch market and securing the sale of gas output in a buoyant market for GDF SUEZ and Lundin.

“The deal between GDF SUEZ, Lundin and Essent marks a new collaboration with an important operator and first direct gas supplies contracts with offshore field producers,” said Paymon Aliabadi, CEO Essent Trading.

“The discovery and development of the E17-A field demonstrates once again the capacity of GDF SUEZ E&P Nederland B.V. to discover and bring to market new reserves in a major and mature area like the Dutch North Sea. The closing of the gas sale is an important milestone in this development,” said Jean Marie Dauger, Executive Vice President, in charge of the Global Gas & LNG Business Line

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