GDF Suez farms in to Brazil gas blocks

The Paris-headquartered energy player is gaining a fifth ofblocks 2 and 3 in the gas-prone basin, where it will be partnered with BP andPetrobras.

GDF Suez E&P International chief executive DidierHolleaux said the company’s first foray into the Brazilian upstream would seeit join experienced partners “in a region which is still under-explored butwhich has a clear potential for natural gas".

The French company’s country manager for Brazil, MauricioBahr, said that gaining “direct access to gas is an important enhancement toGDF Suez’s position” in Brazil, where it generates 7% of the country’s electricitythrough its Tractebel Energia subsidiary.

BP