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GDF SUEZ commits to open French gas market

GDF SUEZ will significantly reduce its long-term capacity reservations on French gas import pipelines and LNG terminals. As a first step, GDF SUEZ will release import capacity in 2010 and 2011: 1 to 2 bcm/year at Montoir-de-Bretagne LNG terminal (about 30% of total capacity) from October 1st 2010 to 2035 and 2 bcm/year at Fos Cavaou (40% of total capacity) by January 2011 for 20 years. This will be about 10% of the total long-term import capacity into France in the next two years. In addition, the group will continue to reduce its share of total long-term import capacity to below 50% by 2014, from the current 66%. And 50% will remain the maximum threshold for their operations for ten years following that, until 2024. In the light of GDF SUEZ's commitments, the Commission has now closed its investigation because it is satisfied that any competition concerns have now been removed. However, if ever GDF SUEZ were to break its commitments, the Commission could impose a fine of up to 10% of GDF SUEZ's total turnover.