GDF SUEZ signs MOU with Shenergy to promote cooperation in energy sector in Shanghai

Gérard Mestrallet, Chairman and CEO of GDF SUEZ, recently signed a cooperation agreement with Wu Jianxiong, CEO of Shenergy Group, to develop cooperation in energy sector, and joint exploration and sharing of development opportunities in Shanghai.

The scope of cooperation includes natural gas, energy services industry, power generation and related businesses, mainly covering liquefied natural gas, decentralized energy, gas to power generation, low emission energy application, and infrastructure projects.

Both companies aim at developing technical cooperation and communication in natural gas transportation and distribution, including the organization of staff trainings, learning missions, and enhance technical cooperation and communication in power generation.

Gérard Mestrallet, Chairman and CEO of GDF SUEZ stated,

This agreement illustrates the commitment and strengthening involvement of GDF SUEZ in sustainable growth in China. The Group’s long-term relationships in China have been marked by the 2011 cooperation agreement signed with China Investment Corporation (CIC), the 2012 partnership with PetroChina to develop six deep underground gas storage tanks, and the 2013 installation of a first floating LNG import terminal. The Group’s expertise and know-how in the gas value chain and in energy services is recognized by our partners in China, Beijing Gas Group with whom we signed a cooperation agreement last March, and today Shenergy Group.

Shenergy Group is a major investor and constructor of large energy infrastructures in Shanghai and the main supplier of electricity and gas energy to the city. It employs 12.000 people and has a revenue of some 5 billion Euros.