EDF: To Invest EUR1 Billion With Partners In Dunkirk LNG Terminal

French state-controlled power group Electricite de France SA (EDF.FR) Wednesday said that it, oil major Total SA (TOT) and Belgian gas distributor Fluxys SA (FLUX.BT), will invest together a total EUR1 billion in a liquefied natural gas terminal in Dunkirk, northern France.

Total holds a 25% interest in the terminal, Fluxys 10% and EDF 65%, the group said in a statement.

The three companies also signed a commercial agreement allowing Total to reserve up to 2 billion cubic meters a year of storage and regassification capacity from Dunkirk LNG, and for EDF to retain a capacity of nearly 8 bcm/year.

EDF and Total have also signed agreements with GRTgaz authorizing it to use the gas distribution network at the exit of the terminal, EDF said.

Dunkirk LNG reserves the right to eventually welcome other financial or sales partners to the project, it said.

- By Geraldine Amiel, Dow Jones Newswires; +33 1 4017 1767; geraldine.amiel@dowjones.com

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