China Investment Corporation (CIC) has bought a 30% interest in GDF Suez’s exploration and production division for $3.15 billion.
Earlier this month, CIC and GDF Suez signed a memorandum of understanding for co-operation across multiple businesses and regions, especially Asia-Pacific. Worryingly for Europe, CIC will share in GDF Suez’s 39 licences on the Norwegian Continental Shelf (four operated), and exploration and production activities in the Netherlands, Germany and the UK.