Marubeni Corporation has reached agreement with GDF SUEZ (France) on participation in the offshore LNG receiving terminal project in Uruguay for providing the LNG receiving, storage and regasification service (“Project”) which GDF SUEZ, through its affiliate International Power S.A. (Belgium, “IPSA”) has been developing, and has executed the Shareholders Agreement. Through the company (“Holding Company”) incorporated in Spain by Marubeni and IPSA on a 50/50 basis, Marubeni and IPSA participate in GNLS S.A. (“GNLS”) incorporated in Uruguay as a wholly-owned subsidiary of the Holding Company.

This Project consists of the construction of one of the world’s largest Floating Storage and Regasification Units (“FSRU”) about 2km offshore in the La Plata River near Montevideo and providing the LNG receiving, storage and regasification service for a period of 15 years from the commencement of commercial operation of the said FSRU. The Terminal Usage Agreement was executed on October 1 2013 between GNLS and Gas Sayago S.A. created by National Administration of Power Generation (“UTE”) and Transmission and National Administration of Fuels, Alcohol and Portland Cement (“ANCAP”) on a 50/50 basis. It is scheduled to commence commercial operation of the initial phase in July 2015.

This is the first offshore LNG receiving terminal project in Uruguay and is also the first time in the world for not only Marubeni but also Japanese companies to participate in a project of this kind. Beginning with this Project, Marubeni aims for global expansion in the business area of offshore LNG receiving terminal projects in the future.

Outline of the Project

- FSRU Regasification Capacity： 15 millions m3／day, Storage Capacity：263,000㎥
- Breakwater: 1,500m
- Jetty: Berthing and working for LNG carrier and FSRU
- Jetty Top Side Facilities: Cryogenic arms to transfer LNG from LNG carrier to FSRU and high pressure gas arms for send out.

About Marubeni

Marubeni is involved in the handling of products and provision of services in a broad range of sectors. These areas encompass importing and exporting, as well as transactions in the Japanese market, related to food materials, food products, textiles, materials, pulp and paper, chemicals, energy, metals and mineral resources, transportation machinery, and includes offshore trading.
The Company's activities also extend to power projects and infrastructure, plants and industrial machinery, finance, logistics and information industry, and real estate development and construction.
Additionally, Marubeni conducts business investment, development and management on a global level.

About GDF SUEZ

GDF SUEZ is a global energy player and an expert operator in the three key sectors of electricity, natural gas and energy services. The Group puts responsible growth at the heart of all its businesses in order to rise successfully to today’s major energy and environmental challenges: responding to the demand for energy, ensuring security of supply, combating climate change and making optimum use of resources.

See the site of Punta Sayago LNG project