The crisis in relations with Russia should compel the European Union to transform its energy policy and reduce the region’s dependence on natural gas imports, a trio of industry leaders said.
GDF Suez SA, France’s largest natural-gas supplier, cut its first-half dividend following a writedown of 14.9 billion euros ($20.6 billion) on last year’s earnings.
GDF Suez SA, France’s largest natural-gas supplier, wrote down 14.9 billion euros ($20.4 billion) in asset values and goodwill and may cut dividends as Europe’s power market remains mired in its worst slump.
Henri Proglio and Gerard Mestrallet, the Frenchmen who run the world’s biggest utilities, fought for a decade to win water contracts around the world. Now, the rivalry goes nuclear.
GDF Suez SA, the biggest buyer of gas in Europe, is considering a bid for Repsol SA’s liquefied natural gas assets, according to Chief Executive Officer Gerard Mestrallet.
Suez Environnement is “sheltered” from a hostile takeover offer even though a shareholder pact will expire in less than two months, Chairman Gerard Mestrallet told investors today.
Europe is driving its largest power and natural-gas utility off the continent.
GDF Suez SA Chief Executive Officer Gerard Mestrallet says the French utility’s dividend is a sacred cow -- even at a world-leading 10.2 percent yield. Options traders don’t believe him.
Suez Environnement, Europe’s second- biggest water company, acquired a 3.95 percent stake in the Rome utility Acea SpA from GDF Suez SA to raise its shareholding to 12.5 percent.
European Union leaders have taken the necessary steps to deal with Ireland’s debt crisis, Gerard Mestrallet, chief executive officer of French utility GDF Suez SA , said in an interview with Agefi.
"In the long-run, the choice to reduce the share of Russian gas in Europe supply would be a major political decision. Public opinion should be completely informed of the much higher cost it would imply for European customers."
- Gerard Mestrallet on Apr 11, 2014