SNH and GDF SUEZ announce substantial progresson Cameroon LNG Project

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December 11 2009

His Excellency Paul Biya, President of the Republic of Cameroon today granted an audience to Mr Jean-François Cirelli, Vice Chairman and President of GDF SUEZ to talk about significant progress on the development of an LNG plant project in Cameroon.

Preliminary studies concluded that the optimal solution to export LNG from Cameroon is an onshore production plant located in the area of Kribi and fed by a national gas-aggregation network connecting known gas resources. Tenders have been issued to select engineering firms for the Pre-FEED engineering studies for the project, which will include gas gathering pipelines and an onshore LNG plant with a production capacity of up to 3.5 million tons per annum, to be located in the area of Kribi on the Southern Coastline of Cameroon. GDF SUEZ and SNH (Société Nationale des Hydrocarbures) will jointly manage the study, which is expected to be awarded at the beginning of 2010.

On this occasion, Mr Jean-François Cirelli, Vice Chairman and President of GDF SUEZ, and Mr Jean-Marie Dauger, Executive Vice President of GDF SUEZ in charge of Global Gas & LNG the Group has officially inaugurated a new office in Yaoundé, in the presence of Mr Adolphe Moudiki, Executive General Manager of Societe Nationale des Hydrocarbures (SNH),. This new office will reinforce the partnership between SNH and GDF SUEZ.

Mr Adolphe Moudiki said, “The joint tender for Pre-FEED engineering studies is an important step in the implementation of the National Gas Master Plan through this challenging multi-year LNG project. The Republic of Cameroon looks forward to capturing the long-term economic and financial benefits of the valorisation of its natural gas resources. This development is supported by all upstream operators, and, with GDF SUEZ, we are committed to developing this project in a manner that will allow all upstream players to capture significant value in accessing the LNG export facility”.

“New gas sources from West Africa are particularly strategic for the development of the LNG market and for GDF SUEZ. GDF SUEZ is confident in the long-term perspectives of the LNG market and looks forward to expanding its presence in LNG production to strengthen the diversification and the security of supply of the Group’s LNG portfolio. GDF SUEZ also believes that integrated Exploration and Production LNG projects, such as its Australian Bonaparte LNG project, are strategic for the development of LNG activities. This is why GDF SUEZ is looking forward to fully contribute to the development of the Cameroonian project”, explained Mr Jean-François Cirelli.

SNH and GDF SUEZ will continue working closely with the exploration and production players active in the country, the city of Kribi and other stakeholders to bring this project to fruition.

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