15 May 2014

GDF SUEZ inaugurates on-shore LNG storage tank in Chile

14 May 2014 - GDF SUEZ has inaugurated the on-shore storage tank for the GNL Mejillones LNG regasification terminal. The on-shore tank, which represents an investment of USD 200 million and has a gross storage capacity of 187.000 m3 has been built to meet the highest security and anti-seismic standards. The construction was supervised by Tractebel Engineering, an affiliate of GDF SUEZ.

The new on-shore LNG storage tank in Mejillones strengthens Chile’s access to diversified energy and helps to meet the country’s growing demand for energy. In addition to this investment, we are also developing a transmission line project to connect Chile’s central and northern grids demonstrating our continued commitment to Chile” said GĂ©rard Mestrallet, Chairman and CEO of GDF SUEZ.

Since 2010, the operating company GNL Mejillones has been closing long-term regasification contracts with the main mining and power generation companies of Chile. The new storage tank also opens commercial opportunities for LNG distribution through trucks and mid-scale ships.

The Mejillones terminal was built as a fast-track solution to guarantee short and long-term security of energy supply in the North of Chile by GDF SUEZ and Codelco, the world’s main copper producer. The terminal entered into operation in April 2010, using an LNG vessel as temporary storage solution, and has received 37 LNG carriers to date, of which 34 were ship-to-ship transfers which makes GNL Mejillones one of the world’s most experienced companies in this type of process.

GDF SUEZ is a global LNG player and has the third largest LNG supply portfolio in the world, supplied from six different countries, and representing 16 mtpa. It controls a large fleet of 14 LNG carriers under mid and long term charter agreements. The fleet is permanently optimized to satisfy GDF SUEZ long term commitments and short term opportunities. The Group has also a significant presence in regasification terminals around the world, including FSRU’s and in liquefaction projects.

GDF SUEZ has a 63% stake in GNL Mejillones and Codelco the remaining 37%. GDF SUEZ operates in Chile mainly through E-Cl, the largest electricity producer in Chile’s northern network, representing around 50% of the market. In the country’s central grid, the Group owns and operates the Monte Redondo Wind Farm (48 MW). An important project for the Group is the construction of the transmission line that will connect the country’s Central and Northern grids in 2017.

GDF SUEZ employs 147,200 people worldwide and achieved revenues of €81,3 billion in 2013. The Group is listed on the Paris, Brussels and Luxembourg stock exchanges and is represented in the main international indices. 

Source: GDF SUEZ