One contract is about a new tri-generation project in Sichuan. Gérard Mestrallet, Chairman and CEO of GDF SUEZ signed this agreement with Sichuan Energy Investment Distributed Energy Systems (SCEI DES) to create a joint venture for the joint development and the operation of a natural gas distributed energy project in the Guangan Huixiang Innovation Park located in Yuechi, Sichuan Province. GDF SUEZ has a 49% stake in the Joint Venture Company, SCEI DES holds the remaining 51%. This project is the first natural gas distributed energy project in an industry park in Sichuan. The joint venture company will be the exclusive external supplier of heating and cooling for the industrial clients and the electricity will be sold directly to the grid. This combined heat and power (CHP) project will produce 37 MW electricity, 53 MW heat and 2.1 MW cold by two gas turbines and a steam turbine. The total amount of investment is around 350 million yuan RMB (around 40 million Euros), and the project duration is 20 years. The commissioning is planned at the end of 2016.
The second contract is about strengthen GDF SUEZ’s presence in natural gas market in China. Gérard Mestrallet has signed a MOU on gas supply with Beijing Enterprises Group. This agreement aims at developing their cooperation in upstream resource projects, in particular LNG sourcing and trading, co-development and investment in gas exploration and production around the world. This agreement completes the previous MOU signed with Beijing Enterprises Group in March 2014, to develop energy projects in Beijing and other parts of China and promote the development of sustainable urban eco-districts.
On this occasion, Gérard Mestrallet said: “These two agreements strengthen our positions in China and illustrate our ambition to develop our activities in natural gas and energy services in the country. It is fully in line with GDF SUEZ’s strategy and China’s targets to promote energy with a lower impact on environment by using natural gas instead of coal and energy efficiency with networks.”