May 12 - EDF Seeks U.S. Gas Assets as Prices May Rise from 10-year Low

Source Press
Company EDFChesapeake Energy Corp. 
Tags Deal Rumours, LNG & Gas Storage/Processing, Upstream Activities
Date May 29, 2012

(Bloomberg) Electricite de France SA’s trading unit is looking at a “long list” of natural gas production assets in the U.S. as prices rebound from a 10-year low.

Chesapeake Energy Corp. (CHK), the second-largest U.S. gas producer, plans to sell $14 billion of assets after prices for the fuel dropped to a 10-year low and it lost a third of its market value this year.

There are companies that believe their assets are undervalued and are reluctant to sell, Lewis said.

EDF Trading is also trying to buy into U.S. LNG export terminals, of which just one has been approved by the government so far.

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