Thu, Jul. 24, 12:43 PM
- Japan’s three biggest lenders are among ~30 banks set to sign a $7.5B loan early next month for the Louisiana-based Cameron liquefied natural gas project, Bloomberg reports.
- The $10B Cameron project is expected to produce 12M tons/year of LNG starting in 2018, and could provide Japan with an alternative fuel source after the nuclear industry shutdown following the 2011 Fukushima disaster forced it to boost energy imports.
- The project is owned by Sempra Energy (NYSE:SRE), GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF), Mitsui (OTCPK:MITSY) and others.
Thu, Jul. 17, 12:15 PM
- Royal Dutch Shell (RDS.A, RDS.B) reportedly plans to pull out of a natural gas project in Qatar following disappointing results from the Pre-Khuff formation in the giant North Field off Qatar's coast.
- Shell last year drilled a dry well in the field's Block D, which Qatar had considered the area's most promising exploration acreage, and the company is said to be discouraged from even attempting to drill a second well.
- Shell's potential withdrawal is a blow to Qatar, which has become the world's largest producer of liquefied natural gas; several other energy companies have signed contracts to explore for gas in the formation, including Cnooc (NYSE:CEO) and GDF Suez (OTCPK:GDFZY, OTCPK:GDSZF).
Thu, May. 29, 6:47 PM
- Avista (AVA) +5% AH after non-regulated subsidiary Avista Capital agrees to sell its Ecova unit, which provides expense management services for utility and telecom needs, to Cofely USA, a subsidiary of GDF Suez (GDFZY, GDSZF) for $335M.
- AVA says it expects to use most of the proceeds to buy back stock and invest in its businesses.
Fri, Apr. 11, 10:39 AM
- GDF Suez's (GDFZY, GDSZF) contract to buy natural gas from Azerbaijan shows how the decades-old structure of Europe’s energy market is starting to crumble, according to a Bloomberg report.
- For the first time, the French company signed a 25-year contract to buy gas from BP and partners in the Shah Deniz gas project reportedly at prices tied to those in western Europe’s domestic gas markets; the change matters because purchases had been made at prices tied to crude oil, which has doubled in the last five years, an expense then passed on to consumers.
- Europe is seeking more flexibility in gas prices as the continent looks to diversify supply; Gazprom (OGZPY) supplied ~30% of EU gas last year, but likely will be competing with exports from the U.S. as well as Azerbaijan in coming years.
- ETFs: UNG, DGAZ, UGAZ, BOIL, GAZ, KOLD, UNL, NAGS, DCNG
Thu, Feb. 27, 8:49 AM
- GDF Suez (GDFZY) swung to a net loss of €9.3B in 2013 from a restated profit of €1.54B a year earlier after taking write-downs of €9.1B, mostly on European power assets, and after booking goodwill charges of €5.8B.
- GDF took the writedowns, which reflect soft demand and increased competition from coal, because "the change in environment in Europe is now serious and long-lasting."
- Net recurrent profit -10% to €3.4B.
- EBITDA dropped to €14.8B from €17B under new accounting rules.
- Expects net-recurrent profit of €3.3-3.7B in 2014.
- Shares +5% in Paris.
- GDF maintained a dividend of €1.50 a share for 2013 but said it would only pay a minimum of €1 from 2014-2016. (PR)
Tue, Jan. 21, 11:46 AM
- Talisman Energy (TLM +0.8%) reportedly rejected a $17B takeover offer from French utility GDF Suez (GDFZY, GDSZF), as the two sides failed to agree on terms in December and have not been in contact since.
- However, U.S.-based utility AES Corp. (AES +0.4%) may still be in GDF’s sights given its footprint in places such as Colombia, where GDF does not operate: GDF's Chinese partner, CIC, is an 8% shareholder in AES, which could ease financing and help get support for a deal.
- Beyond TLM and AES, sources say GDF also could look at smaller portfolios of assets in Latin America worth $5B-$10B, such as assets held by Duke Energy (DUK +0.9%) and Italy's Enel (ENLAY).
Mon, Jan. 13, 7:51 AM
- Total (TOT) purchases a 40% stake in two shale gas exploration licenses for the U.K., the first sign of interest from an energy major in British reserves. (earlier)
- The move is worth less than $50M, but the investment is a sign of confidence in prospects for shale gas in the U.K., which has seen some pilot projects disrupted by local and environmental protests.
- French oil companies Total and GDF Suez (GDFZY, GDSZF) have hopped across the English Channel to explore for British gas, but both probably would be doing it at home had the country not banned fracking.
Nov. 14, 2013, 8:12 AM
- GDF Suez (GDFZY, GDSZF) agrees to acquire Vale’s (VALE) 20% stake in a pair of gas blocks in the Parnaiba basin in northeast Brazil, marking GDF's first entry into exploration and production activities in Brazil.
- Blocks 2 and 3 each cover slightly more than 3K sq. km; one exploration well in each of the two blocks is scheduled by March 2014.
Nov. 6, 2013, 10:44 AM| Comment!
Oct. 25, 2013, 9:59 AM
- Sempra Energy (SRE) and its partners are seeking as much as $5B in loans from commercial banks for their Cameron LNG project, Bloomberg reports.
- The planned $10B terminal in Louisiana is among four projects that have gained approval from the Department of Energy to export liquefied natural gas to countries with which the U.S. doesn’t have free-trade agreements.
- SRE holds 50.2% of the project while GDF Suez (GDFZY, GDSZF) and Mitsui (MITSY, MITSF) own 16.6% each and a venture between Mitsubishi and Nippon Yusen has 16.6%.
Oct. 22, 2013, 7:20 AM
- France's GDF Suez (GDFZY, GDSZF) teams with Australia's Dart Energy (DEGEF) to develop 13 licenses for shale gas exploration in the U.K.'s Bowland Basin, an area which already has attracted investment from British Gas parent Centrica (CPYYF, CPYYY).
- GDF will acquire a 25% working interest in the blocks, with Dart retaining operatorship and a 75% stake.
- A three-year exploration and appraisal program is expected to include the drilling of up to four shale gas exploration wells in different areas of Bowland, plus 10 coalbed methane exploration wells.
- The deal provides a boost to Britain's bid to exploit shale gas deposits after the government unveiled incentives earlier this year to drive investment in the sector.
May. 28, 2013, 12:16 PMGDF Suez (GDFZY.PK) has bought ~9% in the proposed Nabucco West gas pipeline project from Austrian oil and gas company OMV. Nabucco West is one of two remaining proposed pipelines in the running to bring Caspian Sea gas supplied by the Shah Deniz consortium to Europe. The French utility also will sell its 12% holding in the Medgaz Algeria-Europe deepwater gas pipeline. | Comment!
Jan. 15, 2013, 4:43 PMRepsol (REPYY.PK) expects to sell liquefied natural gas assets for ~€2B ($2.7B) by early February, Bloomberg reports; the buyer is not known, but GDF Suez has said it was looking at Repsol’s LNG assets. Spain's largest energy company is trying to keep its investment-grade debt rating by selling €4.5B in assets by 2016 and paying down borrowings. | Comment!
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