(MENAFN- The Peninsula) Paris-based global energy group GDF Suez is looking to reinforce its presence in Qatar. The Group, which occupies a leading position in Qatar's power generation and energy services, is set to further strengthen its foothold in the country by diversifying its portfolio assets.
GDF Suez, which already operates two major power and water plants in Qatar is a bidder in Qatar's new power plant. The company is also looking to accelerate its presence in the energy management services in the run up to FIFA 2022.
"In Qatar, we have invested a lot in power generation sector. GDF Suez is involved in almost 40 percent of Qatar's total power production. We operate two biggest power plants in Qatar. Now, we have submitted our bid for facility D, a new power plant," Group Chairman and CEO Gerard Mestrallet told The Peninsula during his recent visit to Doha.
GDF Suez is the largest independent power producer in Qatar. Its two key assets in Qatar include Ras Laffan B Power and Water Plant and Ras Laffan C Power and Water Plant, also known as Ras Girtas Power Company. GDF Suez has 40 percent and 20 percent stakes, respectively, in these projects. Ras Laffan C is Qatar's largest power and water plant.
With an estimated $27bn joint investment in the region, the global energy group is looking to accelerate its investments in Qatar and enter into new areas. It is also looking for potential investors, both individuals and institutions, as co-investors, who are ready to invest in the countries the Group has major presence.
"We are interested in further expanding our presence in Qatar and strengthen our cooperation in the sectors like power, natural gas and energy services. My meeting with various potential partners also evoked the idea of co-investments in the countries where we have strong presence. We could propose to Qatari companies and individuals to co-invest with us in China, South East Asia and Latin America."
Gerard said energy management was one of the key areas of his discussions with Qatari authorities. Qatar wants to make sure that its FIFA-linked projects are energy efficient and with zero carbon foot print. Qatar is also interested in our expertise in biomass. GDF has solution to offer Qatar to manage complex energy system.
Giving an update on GDF Suez's operation at offshore Block 4, Gerard said it's too early to say whether the project is economically viable or not. "We are currently assessing the possibility to enter into an appraisal phase in the Block 4. We made some drilling, last year and year before, which has been promising. We need to assess the size and quantity of the gas" It's too early to say whether the project is economically viable."
Block 4, located in the Northern part of Qatar, is the largest non-associated gas field in the world. GDF Suez holds 60 percent shares and operatorship of Block 4.
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