ENGIE has completed the acquisition of the Chilean EMI and entered into a partnership agreement on LNG with Kansai Electric

• 27 Jul 2015

ENGIE, formerly GDF Suez, through its subsidiary Cofely, has completed the purchase of IMA Chile, a leading provider of industrial services (maintenance and solutions) to major customers in mining, energy generation and industry. In addition,  ENGIE and Kansai Electric, a Japanese power production company, have agreed to enter into a partnership agreement on liquefied natural gas (LNG). This agreement will provide shipping optimization and other commercial and marketing opportunities in Europe and in other LNG markets to the benefits of Kansai and ENGIE. Thanks to the acquisition, ENGIE energy services in Chile will represent the Chilean leader in energy services with 65M€ of yearly revenues and 1,700 employees, serving more than 200 customers in all sectors (mining, energy generation, industry, retail, health, …). The Group has recently reaffirmed its ambition to double its energy efficiency revenues outside Europe by 2020. IMA has developed since 1982 two main lines of business for industrial customers: - Maintenance services (80% of revenues) mainly in the fields of mechanical, electrical, instrumentation and automation, helping their customers to enhance reliability and availability of their plants - Solutions (20% of revenues) mainly in the field of automation, electrical control and instrumentation, improving the management tools of their client’s industrial process The company has generated revenues of 35M€ in 2014 with its team of 1,200 employees. Concerning Kansai Electric, ENGIE will purchase 0.4 million tons per annum (mtpa) of LNG from Kansai’s North American LNG. Depending on markets conditions, ENGIE could then sell an equivalent amount of LNG to Kansai Electric in Japan. The transaction will start in 2019 for an initial period of four years which can be extended up to 20 years. ENGIE will manage these agreements – purchase, sale and shipping agreements – within its own diversified LNG portfolio. Philip Olivier, Chief Executive Officer of ENGIE GLOBAL LNG declared: “We are delighted to initiate this partnership with Kansai Electric, a major energy player in Japan. This agreement underlines the value that ENGIE, as a major LNG player, can bring to utilities such as Kansai Electric through its diversified LNG portfolio, its capacity to trade on global LNG markets and its shipping experience.” ENGIE controls a fleet of 14 LNG carriers under medium and long term charter agreements. The Group has also a significant presence in regasification terminals around the world. Source: ENGIE Press Releases