GDF Suez eyes big Mideast business
Paris, April 17, 2013
French gas and power utility GDF Suez expects strong demand for power in the Middle East will allow it to sell thousands of megawatts worth of new gas-fired power stations in the region, a company executive was quoted as saying.
Dirk Beeuwsaert, head of GDF Suez's international energy business, told French daily Les Echos he expects the Middle East will need about 6,000 megawatts (MW) of new capacity per year for the next five to 10 years, due to the region's fast growth and the massive use of air-conditioning.
"Considering our strong position in the region, we expect to capture up to 40 per cent of that growth," Beeuwsaert said.
Saudi Arabia alone is expected to need 3,000 MW of new capacity per year. One thousand megawatts roughly corresponds to the output of one large nuclear plant.
Most of the expected tenders will concern gas-fired power stations that also desalinate sea water, like the 2,500 MW Al Khiran project in Kuwait for which a consortium will be put together in coming months, Beeuwsaert said.
The company is also banking on renewable energy, as Gulf states have large ambitions in that area.
GDF Suez said in a statement it had started commercial operation of three gas-fired power plants - two in Oman and one in Saudi Arabia - with a total capacity of 3,217 MW.
The total capital investment for the three projects amounts to $3.8 billion, more than 70 per cent funded with debt.-Reuters
More Energy, Oil & Gas Stories
- ME oil, gas transaction value up 15pc
- Victrex to showcase new product in Paris
- Aramco JV puts off giant refinery overhaul to 2015
- Libya threatens to bomb N Korean tanker
- Bahrain 'producing 850MW of surplus power'
- 2,000 experts for Bahrain geosciences summit
- Libyan rebels start oil exports, bypassing govt
- Dubai drilling company set for London IPO
- Opec output soars on higher Iraq exports
- S Korea to pay Iran $550m under nuke deal
- Qatar LPG exports will stay unchanged till 2018
- $14bn Bahrain energy sector focus for summit
- Iraq now world's fastest-growing oil exporter
- Old IT systems pose risk to oil firms
- Thomson Reuters adds commodity monitoring tool
- Oil below $90 to hit GCC economies
- GlassPoint appoints new Oman director
- Sheffield company opens Dubai hub
- Oman targets big rise in gas output
- Intertek buys UAE firm for $66m
- Qaiwan to tender Baizan refinery EPC contract
- Al Maha wins Oman Air fuel supply deal
- Iran to become top gas importer by 2025
- UAE hydrocarbon projects seen hitting $11bn
- Summit focus on occupational safety
- Aramco names new senior VP
- Siemens gets $253m Qatar power contract
- Taqa-led group's India deal worth $1.6bn
- Taqa-led group to buy India power plants
- Iraq oil exports hit record 2.8m bpd