At the UK terminal, GDF has access to regasification capacity of 2.4 billion tonnes/year starting in 2008-09 for 20 years.

The agreement gives GDF long-term access to the US LNG market. "The group is now present in all the major LNG markets, and its fleet enables it to proceed with arbitrages on the final destination of its cargoes," said GDF Chief Executive Jean-Marie Daugier.

Cheniere Chairman and Chief Executive Charif Souki said, "The increasing connectivity between the European and North American gas markets will require new business models and creative agreements. Gaz de France"s position in Western Europe perfectly complements Cheniere"s position in the Gulf of Mexico to give both companies increased flexibility and access to premium markets."

PIN/OGJ.COM