France: GDF Suez LNG Sales Climb

GDF Suez of France said it has sold 68 cargoes of LNG (49 of which were sent to Asia) in the fist nine months of this year, compared to 50 cargoes (31 of which were sent to Asia) by the end of September 2012.

Revenues from the company’s Global Gas & LNG business totaled EUR 4,358 million, a gross increase of EUR 776 million (+21.7%), compared to September 30, 2012, including EUR 825 million from organic growth (+23.4%).

GDF Suez revenues at September 30, 2013 were EUR 59,632 million, representing organic growth of +3.4%. This expansion is driven by the group’s continued development in fast growing markets, favorable weather conditions compared to 2012 (in particular during the first half) which had a positive impact on natural gas sales in France, and by an increase in LNG sales to third parties reflecting strong arbitrage activity in Asia and Europe.

EBITDA for the period was EUR 10,296 million, corresponding to a gross variance of -6.5% and to an organic variance of -1.4% compared to 2012.

LNG World News Staff, November 13, 2013

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