ENGIE and AES subsidiary agree on LNG marketing deal in the Caribbean

ARLINGTON, Va. & PARIS -- ENGIE and AES Andres DR, S.A., a subsidiary of The AES Corporation, have agreed to enter into a binding joint marketing agreement for liquefied natural gas (LNG), effective immediately for a period of up to 12 years. The partnership will allow ENGIE and AES’ to foster growth in LNG and natural gas sales in the Caribbean.

ENGIE and AES Andres will jointly market 0.7 MMtpy of LNG. The agreement will pave the way to supply industrial customers and develop small-scale demand.

Under the agreement, ENGIE will deliver up to 0.7 MMtpy from its diversified LNG portfolio, primarily via its supply from the Cameron gas liquefaction project in the U.S., expected to come on line in 2018. AES Andres will provide access to its regasification asset in the Dominican Republic, which has an annual capacity of approximately 1.5 MMtpy.

This partnership further strengthens the two groups’ relationship following the signing of a supply agreement earlier this year between ENGIE and Gas Natural Atlántico, an affiliate of AES in Colón Panama, under which ENGIE will provide up to 0.4 MMtpy of LNG at Panama’s Costa Norte LNG terminal beginning in 2018.

“We are delighted to initiate this new partnership with AES, which has an attractive existing platform for LNG import,” Philip Olivier, Chief Executive Officer of ENGIE Global LNG said.

“We are proud of our leadership in bringing LNG to the Dominican Republic and the Caribbean, and are happy to partner with ENGIE to provide a competitive and reliable source of LNG by leveraging ENGIE’s LNG position and our existing infrastructure,” said Manuel Perez Dubuc, President of AES Mexico, Central America and the Caribbean.

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