PARIS, Oct. 11 (UPI) -- French energy company GDF Suez sees Asia as the source of growth for it liquefied natural gas business, the company announced Monday.
GDF Suez announced a deal with the China National Offshore Oil Corp. to export 2.6 million tons of liquefied natural gas to Asia each year for the next four years, the company said.
GDF Suez said it was the only energy company in Europe that has the flexibility in its LNG portfolio to send resources to the Asian market.
"GDF Suez considers Asia as a core development region for its LNG business, with strong growth prospects and new supply potential," the company said in a statement.
Wang Jiaxiang, president of CNOOC's gas division, said his company was "very pleased" to reach the deal with his European counterparts.
"This new contract will contribute to energy saving, emission reduction and the development of low-carbon economy of China," he added.
