Welcoming GDF Suez to the Australian market

GDF Suez are one of the world's leading energy providers, and now they are in Australia.

GDF Suez are "active across the entire energy value chain, in electricity and natural gas, upstream to downstream"

This week GDF SUEZ signed final agreement with Santos for the purchase of a 60% share in three offshore gas fields in Western Australia's north west Bonaparte Basin. This confirms progress on the GDF Suez and Santos Joint Venture Bonaparte LNG project.

According to press release issued yesterday "The Bonaparte LNG project responds to three strategic objectives for GDF SUEZ:

To develop integrated LNG projects, from exploration-production to marketing.

To increase its gas resources. The 3 fields which have been acquired represent a significant potential for growth, giving the Group the possibility of increasing its hydrocarbon reserves by approximately 20%.

To expand its LNG supply portfolio to the Asia-Pacific zone, a highly promising market which represents two thirds of worldwide LNG demand".

The project will be run by GDF SUEZ Bonaparte based in Perth.

The first project phase will last around 3 years, before the final investment decision is made. A new drilling campaign is scheduled by the end of 2010 to confirm reservoir potential.

Full press release is available http://www.gdfsuez.com/en/news/press-releases/press-releases/?communique_id=1177

Job Opportunities are expected to be made public in coming weeks and months.