UPDATE: EDF, Partners To Invest EUR1 Billion In Dunkirk LNG Terminal
June 29 2011 - 4:01AM
Dow Jones News
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 plant, due to come on stream at the end of 2015, will have
an annual regassification capacity of 13 billion cubic meters and
will increase the import capacity for LNG into France by nearly
20%.
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.
Works on the site are due to start at the beginning of 2012.
Contracts have been awarded to three consortiums:
Bessac-Razel-Soletanche will build a tunnel between the Gravelines
nuclear power station and the terminal; Bouygues-Entrepose
Contracting will build three LNG reservoirs; and Techint-Sener will
be responsible for the unloading installations and the industrial
processes linked to regassification, EDF said.
EDF said it will now be able to offer a "balanced and
diversified portfolio" of natural gas and to better respond to the
demands of end customers requiring dual fuel--electricity and
gas--and to optimize the sourcing of its combined cycle gas, or
CCG, plants.
EDF will bring into service three CCG in France by 2012, with a
total capacity of 1,360 MW, along with a CCG plant with a capacity
of 1,300 MW in the U.K.
-By Geraldine Amiel, Dow Jones Newswires; +33 1 4017 1740;
geraldine.amiel@dowjones.com
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