ENERGY

GDF Suez wins $3 billion deal in Chile

GDF Suez will use a new deal worth three billion dollars to supply electricity to Chilean company Emel from 2012 to 2026 to reinforce its position in Latin America, where the French utility group has been present since the nineties.

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AFP - French utility group GDF Suez said on Thursday it had signed a contract worth 3.0 billion dollars (2.0 billion euros) to supply electricity to subsidiaries of the Chilean electricity company EMEL.

The contract is to run from 2012 to 2026, GDF Suez said in a statement.

The electricity is to be produced principally from liquefied natural gas processed at a terminal held 50-50 by GDF Suez and Chilean copper group Codelco. The terminal is expected to enter service next year.

The facility will provide about 20 percent of the electricity needs of mainly industrialised northern Chile.

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