The French power and gas company GDF Suez announced on Monday that it has signed two deals with Chinese sovereign wealth fund CIC and state-owned energy company CNOOC as it looks to strengthen its presence in China and Asia-Pacific.

Under the deal, CIC will purchase a 2.3 billion euro ($3.2 billion) minority stake in the Exploration and Production division (GDF Suez E&P). As part of the sale, GDF Suez will also transfer a 10% share in its Trinidad and Tobago gas liquefaction plant, called LNG Atlantic, to CIC for €0.6 billion.

According to GDF Suez chairman and CEO Gerard Mestrallet, this partnership will help drive its expansion in Asia's fast–growing energy markets.

GDF Suez is one of the world's largest gas and power companies, with 85 billion euros ($119 billion) in revenue last year. In China, GDF Suez supplies gas to power companies and has 26 joint ventures to treat or distribute water, including in the major cities of Chongqing and Shanghai.

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