France's EDF to invest 1.5 bln euros in methane terminal project

14:28, May 04, 2011      

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Electricity of France (EDF), Europe's leading electricity supplier, announced Tuesday a 1.5-billion-euro (2.22-billion-U.S.-dollar) investment plan to finance a methane terminal project in Dunkirk in northern France.

"The Dunkirk methane terminal ... will have an annual regasification capacity of 13 billion cubic meters of gas (Gm3) boosting France's capacity to import natural gas by 20 percent," the French power producer said in a statement posted on its website.

Expected to come into service by the end of 2015, the EDF's new investment will provide more than 1,850 jobs as the construction starts in 2012, and an additional 250 new jobs will be created "in either direct operation of the terminal or other port professions."

With the new terminal "strategically located to serve all the markets of North-West Europe," the EDF said it is optimistic to "better meet the needs of its final customers with dual energy offerings (electricity plus gas) and optimizing supplies to its gas-fired power stations."

Source: Xinhua
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