SNH and GDF SUEZ enter into a partnership to develop a LNG project in Cameroon

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November 6th 2008

The National Oil Company of Cameroon, Société Nationale des Hydrocarbures (SNH) and GDF SUEZ have entered into a strategic partnership to develop a Liquefied Natural Gas (LNG) export plant in Cameroon. The two companies will start by jointly evaluating the alternatives for LNG export, including an LNG Floating Production Storage Offloading (FPSO) solution in the Kribi or Limbé area.

This partnership will enable Cameroon to join the circle of LNG exporters and open an exciting new chapter of its hydrocarbons development. This initiative will provide SNH and all upstream operators in Cameroon with the opportunity to monetise associated and/or non-associated gas reserves.

Cameroon has significant gas reserves, estimated at 500 billion cubic meters by SNH, which could make this country an important player in the international gas market.

This agreement has the potential to create significant direct and indirect benefits for Cameroon through the valorisation of gas reserves and the development of local gas infrastructure and gas related industries, such as electricity generation.

GDF SUEZ, through its technical and LNG expertise and access to premium downstream markets, will work closely with SNH and other stakeholders to bring this to fruition.

Mr Adolphe Moudiki, Executive General Manager, said “This really marks a new step forward in our endeavour to implement the Master plan for the development of our national gas resources”.

“GDF SUEZ is pleased and honoured to open this important cooperation with SNH, which demonstrates its commitment to developing unique tailored solutions worldwide thanks to its experience and expertise” said Jean-Marie Dauger, Executive Vice President of GDF SUEZ in charge of Global Gas and LNG.

GDF SUEZ has been a key player in LNG for more than 40 years. Today, the Group is the first LNG importer in Europe and third worldwide, with more than 18 bcm of LNG shipped in 2007. GDF SUEZ is present at each stage of the LNG supply chain, from liquefaction plants, and a fleet of 20 LNG tankers (including 5 under construction) and LNG receiving terminals.

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