GDF Suez will build an on-shore LNG storage tank in the north of Chile, and the tank is part of the GNL Mejillones terminal, which GDF Suez jointly owns with copper producer Codelco.

By such investment, GDF Suez will also increase its stake in the LNG company to 63%, in line with its long-term strategic vision for Chile.

The tank is expected to be completed by 2013 and its construction was awarded to Tecnicas Reunidas, which completed the first phase of the terminal.

Project supervision will be undertaken by Tractebel Engineering, an affiliate of GDF Suez.

GDF Suez executive vice president in charge of Energy Europe & International Dirk Beeuwsaert said that this project is part of GDF Suez’s effort to reduce the country’s dependency on fossil fuels, contributing positively to the environment and diversifying its energy supply.

Since April 2010, GNL Mejillones has delivered over two million cubic meters per day of natural gas to the generation companies E-CL and Gas Atacama to convert LNG into power under contracts with four major mining companies in Chile as well as direct gas sales to a portfolio of industrial clients.