Chinese Sovereign Wealth Fund Signs MOU to Buy GDF Suez’s Stake in Atlantic LNG Liquefaction Facility
Posted on Aug 11, 2011 in Financing, Liquefaction | Comments Off on Chinese Sovereign Wealth Fund Signs MOU to Buy GDF Suez’s Stake in Atlantic LNG Liquefaction Facility
China Investment Corp. (CIC), China’s sovereign wealth fund, has signed a Memorandum of Understanding (MOU) with GDF Suez to acquire GDF Suez’s 10 percent stake in liquefaction train 1 at the Atlantic LNG facility in Trinidad & Tobago and production payments for trains 2, 3, and 4. In the deal under negotiation, CIC also would acquire 30 percent of GDF Suez’s exploration and production unit. The New York Times provides additional details.
Separately, the Washington Post reports that an audit of Trinidad & Tobago’s natural gas reserves has reduced the country’s total proven gas reserves from 14.4 Tcf to 13.4 Tcf.