Regulatory Filings • Dec 15, 2008
Regulatory Filings
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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.
With an annual turnover of EUR 7.4 billion in 2007, Essent is the largest power company in the Netherlands. Essent supplies electricity, gas and heat to domestic and business customers. Essent is active throughout the energy chain: from the production of energy up to and including supply to end users. The corporation views The Netherlands as its home market, but has now also built up a considerable market position in Germany and is doing so increasingly in Belgium too. The environmental branch of the group processes waste into energy and residual currents. Approximately 11,000 people work at Essent. For more information, visit www.essent.eu and www.essenttrading.com
One of the leading energy providers in the world, GDF SUEZ is active across the entire energy value chain, in electricity and natural gas, upstream to downstream. It develops its businesses (energy, energy services and environment) around a responsible-growth model to take up the great challenges: responding to energy needs, ensuring the security of supply, fighting against climate change and maximising the use of resources. GDF SUEZ relies on diversified supply sources as well as flexible and high-performance power generation in order to provide innovative energy solutions to individuals, cities and businesses. The Group employs 196,500 people worldwide and achieved revenues of €74,3 billion in 2007. GDF SUEZ is listed on the Brussels, Luxembourg and Paris stock exchanges and is represented in the main international indices: CAC 40, BEL 20, DJ Stoxx 50, DJ Euro Stoxx 50, Euronext 100, FTSE Eurotop 100, MSCI Europe and ASPI Eurozone.
Lundin Petroleum is a Swedish independent oil and gas exploration and production company with a well balanced portfolio of worldclass assets in Europe, Africa, Russia and the Far East. The Company is listed at the Nordic Exchange, Sweden (ticker "LUPE"). Lundin Petroleum has existing proven and probable reserves of 184,2 million barrels of oil equivalent (MMboe) as at 1 January 2008. For more information, visit www.lundin-petroleum.com
Tel France: +33 (0)1 57 04 24 35 Tel Belgium: +32 2 510 76 70 E-Mail: [email protected]
Jeroen Brouwers, spokesman Essent Tel: +31 73 853 4939 E-Mail: [email protected]
Tel: +33 (0)1 40 06 66 29 E-Mail: [email protected]
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